Minister of Fisheries and Ocean Resources Ahmed Shiyam on Wednesday, alleged the Covid-19 global pandemic provided a 'golden opportunity' for the former government to exploit state funds.

While speaking on state-run PSM News' program 'Raajje Miadhu', Shiyam said the previous government had abused state funds during the pandemic.

"Covid indeed was the perfect opportunity for the former government. I am saying this since they decided to abuse with the state funds amid the pandemic," Shiyam said.

The current government alleges its predecessor had gravely abused state funds, hiking the national debt to previously unprecedented levels. In response to this, Shiyam claimed the previous administration misused the funds allocated for various public initiatives, for personal gain.

He highlighted several alleged corrupt conduct of the Ibrahim Mohamed Solih-led government, and noted that the Fiscal Responsibility Act was not suspended year-on-year, but rather from March 2022 until December 31st, 2023.

"The amendment, as I have mentioned, was made to grant the illicit benefit by exploiting the state funds allocated for public benefit," Shiyam added.

The previous administration suspended the Fiscal Responsibility Act, to move in favor of expanding the government overdraft facility, allowing a ceiling of MVR 4.4 billion.

Despite the significant hike in the overdraft facility, the former government did not pay to multiple bills it owed payment.

Shiyam argued that the outstanding money to various state-owned enterprises reached over MVR 7 billion.

The current administration claims state debt increased to MVR 120 billion.