Malé, August 31- The Maldives government has accused opposition parties of orchestrating a financial crisis in an attempt to topple President Mohamed Muizzu's administration. In response, the government has launched an investigation to identify those responsible for creating economic instability through alleged financial scams.

President Muizzu has vowed that those behind the conspiracy will face justice, stating, "Those trying to destabilize the government must be held accountable."

This alleged financial coup comes after previous unsuccessful attempts by the opposition Maldivian Democratic Party (MDP) to impeach President Muizzu. Despite surviving an impeachment motion linked to his perceived alignment with China, Muizzu now faces a new challenge that appears to be aimed at destabilizing the tourism-dependent island nation.

Recent reports from local media suggested that the Maldives was running out of usable foreign currency reserves, with some rumors even claiming the reserves had turned negative. These rumors sparked widespread panic, leading the Bank of Maldives (BML) to take drastic measures by temporarily suspending foreign transactions from customers' debit and credit cards and limiting credit card dollar transactions to a maximum of $100.

The abrupt action by the country's largest bank created public fear and uncertainty, prompting BML to quickly retract its decision. However, similar restrictions were reinstated shortly thereafter, raising suspicions within the government. In an emergency meeting, President Muizzu expressed surprise at the bank's unilateral decisions, stating that BML had acted without his consultation.

The government suspects that these actions by BML may have been influenced by opposition forces aiming to create a financial disaster and undermine public confidence in the administration. They have labeled the incident as an "illegal attempt" to overthrow President Muizzu's government by inducing a financial crisis.

Maldivian police have now initiated an investigation into the suspected financial coup to determine the involvement of opposition parties and prevent further economic disruption. As the investigation unfolds, the Maldives remains on high alert, grappling with both political and financial uncertainties.