Uchu Calls for Longer Presidential Terms, Linking Dollar Shortage to Short Governance Cycles

Uchu Calls for Longer Presidential Terms, Linking Dollar Shortage to Short Governance Cycles

Prominent businessman and tourism industry veteran Mohamed Moosa, widely known as Uchu, has suggested that the solution to the Maldives’ ongoing dollar crisis lies in extending the presidential term. Speaking in an interview the owner of Champa Brothers argued that five years is not enough for a president to address the nation’s pressing economic issues without resorting to rushed decisions.

"Five Years Is Too Short"

Uchu believes that every president should have between 10 and 15 years in office to properly deliver on their promises and make lasting changes. He explained that the current system encourages “panic-induced and hasty” measures that fail to address deeper problems such as foreign currency shortages.

“When I think about the dollar issue, the Maldives is one of those countries where dollars basically rain down,” Uchu said, noting the country’s strong inflow of foreign currency through tourism and other sectors.

Despite its small population, the Maldives spans a vast geographic area with nearly 200 inhabited islands. According to Uchu, providing services and infrastructure across such distances significantly increases costs. “These expenses don’t come out of the president’s pocket. They come from the citizens,” he added.

Infrastructure, Loans, and the Cost of Geography

Uchu pointed out that when promised projects fail to materialize within a five-year term, the sitting president often faces public criticism. To meet expectations, administrations frequently take out loans, many of which are in US dollars.

“The Maldives is not a small place. Our islands are spread far apart. Five years is too short a time for an administration to make changes,” he said.

In other countries, he explained, large-scale projects benefit from local resources like wood, gravel, stone, and metal. The Maldives, however, must import most materials, increasing both costs and logistical challenges.

The Role of Imports and Tourism

Drawing on his 40 years of experience in the tourism industry, Uchu said he respects the work presidents put into managing imports and logistics. However, he noted that the short presidential term forces leaders to act quickly rather than strategically.

He also highlighted that much of the foreign currency borrowed for projects does not arrive as cash. In many cases, neighboring countries send workers to carry out projects, and payments for their work are made in dollars. This, Uchu argued, is another way the Maldives loses valuable foreign currency.

Linking Term Length to Economic Stability

Uchu believes that bringing down the dollar rate to a level citizens desire cannot be achieved within a single five-year term. Investments in infrastructure such as airports on various islands, along with other development projects, require sustained efforts over a longer period.

He concluded that without extending the time frame for presidents to implement their plans, the country will continue to face recurring economic pressure and the dollar shortage will remain unresolved.