President Dr Mohamed Muizzu has called for the Maldives to break free from the burden of debt and achieve economic independence, drawing a parallel with the nation's liberation from subjugation by arms.

He spoke at the official Victory Day ceremony held at Republic Square in Malé on the night of 3 November 2026, the President's Office said.

Tribute to the martyrs of 1988

The President paid tribute to the martyrs who defended the nation on 3 November 1988 and honoured their sacrifices. He noted that 38 years have passed since the 1988 aggression, and that two new generations have grown up without witnessing it. Safeguarding national independence, achieving economic self-sufficiency and ensuring lasting sovereignty, he said, are the nation's responsibilities towards its young people.

For background on the day, see our explainer: Victory Day: why the Maldives remembers 3 November 1988.

Economic independence

The President said economic independence is fundamental to building a self-sufficient, prosperous and happy society. A nation's language, religion and way of life can be protected only when they are backed by an economy that does not compel the country to depend on others, he said.

He highlighted the Government's efforts to:

  • steer the Maldives away from the threat of bankruptcy

  • end irresponsible monetary expansion

  • repay State debt

Transformative reforms to the nation's finances are necessary to safeguard its nationhood, independence and sovereignty, he said. He pledged to build a prosperous, self-sufficient State that gives equal priority to spiritual and material development.

Security and young people

The President said foreign military personnel have been withdrawn from the Maldives, international efforts to recover lost maritime territory have begun, and the capabilities of the Maldives National Defence Force are being strengthened rapidly.

He also pointed to the National Service Programme, which was set up to nurture young people with a strong national outlook. More than 1,000 young people have been trained under it, and many have entered the workforce.

A call to the nation

Concluding his address, the President said his decisions would be guided by the aim of revitalising Maldivian national values and safeguarding the country's independence. He called on the nation to place national loyalty and the collective good above political sentiment and personal interest, and to work together towards a debt-free, self-sufficient and prosperous future.