President Mohamed Nasheed told delegates of the World Bank he inherited a nation “on the verge of bankruptcy” at a management retreat this morning, Minivan News reported. Speaking at the World Bank Maldives Country Management Retreat, the president said the previous government hiked up wages for civil servants as a means of patronage and commercial loans were taken for infrastructure projects with the intention of winning votes. “The fiscal irresponsibility of our predecessors has left a big black hole in our treasury,” he said.
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