At today’s meeting of the Cabinet, members deliberated on resolving the issue of foreign currency shortage in the market.
Members highlighted the importance of expediting measures to ease the difficulties arising as a result of the prolonged shortage of US Dollar in the market.
After discussing the matter, members decided to strengthen the implementation of regulations on foreign currency exchange.
At the meeting, the Cabinet also approved the Maldives’ participation in the International Anti-Corruption Academy (IACA).
IACA is a joint initiative by the United National Office on Drugs and Crime, Austria, European Anti-Fraud Office and other stakeholders. IACA aims to overcome current shortcomings in knowledge and practice in the field of anti-corruption.
The Academy will function as an independent centre of excellence in the field of anti-corruption education, training, networking and cooperation, as well as academic research.
Members of the Cabinet underlined that the Maldives’ participation in IACA would be a huge step forward in its fight against corruption.
Cabinet members also recognised that the Maldives slipped in this year’s Corruption Index as a result of increase in disclosure and reporting of cases whereas most cases went unreported previously.
They expressed optimism about climbing higher in the index in the future due to better investigation and efforts to wipe out corruption.