The Ministry of Finance has announced a significant improvement in the Maldives’ financial standing following the full settlement of the USD 500 million Sukuk issued in 2021, along with its associated coupon payment of USD 24.68 million, on the 2nd of this month. According to the Ministry, these obligations were met using the Sovereign Development Fund (SDF) and foreign currency reserves, marking a pivotal step in the nation’s debt management strategy.
As of April 2nd this year, total state revenue reached MVR 12.4 billion, reflecting an 11.6 percent increase compared to the previous year. Furthermore, driven by substantial growth in tax revenue, the budget surplus has risen to MVR 2.3 billion, thereby strengthening the state’s capacity for debt servicing and repayment.
