President Creates a National Task Force
Thursday 7th of May 2020
President Creates a National Task Force
During the Cabinet Minister's meeting on 13th April, President Ibrahim Mohamed Solih announced the decision to establish the 'National Task Force on Resilience Building and Economic Recovery' for economic and social recovery from the impacts of covid 19.
Working Group on Finance
The chief directive of the Working Group on Finance is the reprioritization of the 2020 National Budget and appraisal of new expenses that may arise due to COVID-19. The working group would also be responsible for; evaluating and forecasting changes to state expenditure; income; assessing the revised budgetary requirements; and facilitating easier and swifter acquisition of funds through bilateral, multilateral and other cooperative undertakings. The Working Group on Finance, with their directives divided under fiscal and monetary policies, is also mandated with undertaking negotiations to ease the repayment terms of current Government loans.
Working Group on Economic Recovery
The chief directive of the Working Group on Economic Recovery is the restoration and rejuvenation of the Maldives economy as well as investigating and solving the many difficulties being faced by companies, small to medium business owners and freelance workers resulting from the COVID-19 preventative and protective measures taken by the state. This includes; designing, evaluating and providing relief packages being offered by the Government; designing and implementing a 'stimulus package' to aid new business ventures; provision of a 'benefits scheme' to support those whose employment status was affected due to the pandemic and; devising means to stimulate the job market. The working group is also mandated with determining alternative means to immediately increase economic ventures and to promote and facilitate such activities. They would also be responsible for determining, under the clear instructions of the health sector, the guidelines, strategies and timelines through which the country may reinitiate regular economic activities related to tourism and other industries.
Working Group on Social Sector
The chief directive of the Working Group on Social Sector is to conduct social activities to protect the public from adverse social changes and situations arising from the pandemic. This includes; implementing measures to negate possible mental health difficulties in individuals who face changes to employment status or livelihoods; protecting individuals who may fall victim to drug abuse to cope during this delicate time; protecting victims of domestic abuse; vulnerable children; and ensuring that children's rights are being upheld. The working group will also be mandated to protect the rights of expatriate workers, as well as evaluating and improving their quality of life and organise repatriation should it be requested.