MDP leaders criticize amendment criminalizing reporting of dollar prices

Opposition MDP leaders have expressed concern that the public should be able to speak openly about the rising dollar rate, adding that government measures have worsened the country’s economic situation.

Their comments follow the Parliamentary Public Accounts Committee’s amendment to the Foreign Exchange Bill, which criminalises public reporting and advertising of black-market dollar prices and imposes fines of up to MVR 500,000.

In a post on X, MDP Chairman and former President Mohamed Nasheed said the value of the dollar is rising daily and the cost of living continues to increase. He described the government’s frequent changes to foreign-exchange laws and regulations as a sign of “lack of direction.”

“Such decisions and sudden changes undermine market confidence and further deteriorate economic conditions. The latest amendment, which allows journalists and media outlets to be prosecuted for reporting on dollar appreciation, is unacceptable,” he wrote.

The USD rate keeps climbing daily, and the cost of living rises with it. Meanwhile, the Maldives government appears to be groping in the dark with almost daily changes to foreign currency legislation and regulations. These U-turns and shifts erode market confidence and make the…

— Mohamed Nasheed (@MohamedNasheed) August 19, 2026

Nasheed added that instead of addressing the root causes of the dollar shortage, the government is choosing to punish those who highlight the problem.

Former President Ibrahim Mohamed Solih also criticised the amendment, stating that journalists must remain vigilant on matters of public interest and have a constitutional duty to provide accurate information to the people. He said passing laws that hinder journalism would bring no benefit.

Former MDP President Abdulla Shahid said freedom of expression “cannot be locked,” and that people must be able to speak about their concerns regarding the appreciating dollar. He wrote that the government’s economic policy has “largely failed.”

ޚިޔާލުފާޅު ކުރުމުގެ ޙައްޤުގައި ތަޅެއް ނޭޅުވޭނެ! ޑޮލަރު އަގު ބޮޑުވުމުގެ ކަންބޮޑުވުމުގެ ވާހަކަ ރައްޔިތުންނަށް ދެއްކޭނެ. ކަސްތޮޅުން ކަންކަން ހައްލުކުރަން ނޫޅެ ދެފުށް ފެންނަ ސިޔާސަތުން ރައްޔިތުންނަށް ހައްލުތައް ދައްކަންޖެހޭ. ސަރުކާރުގެ އިޤްތިޞާދީ ސިޔާސަތު އޮތީ ބޮޑުތަނުން ފެއިލްވެފަ.…

— Abdulla Shahid (@abdulla_shahid) August 19, 2026

“If the direction is not on the right track, the country’s economy will suffer irreparable damage, people will become poor and businesses will collapse,” Shahid said.

Other opposition politicians and journalists have also criticised the amendment, describing it as an attempt to silence the media and hide the truth.