Minister of Finance Moosa Zameer has stated that, through the President’s sincere and dedicated efforts, investors have gained full confidence in the Maldives’ ability to meet its debt obligations. While MVR 9.3 billion has been allocated in this year’s budget to facilitate the repayment of the USD 500 million sukuk issued by the previous administration, the government’s robust fiscal policies have effectively addressed and countered concerns regarding a potential sovereign default.
A clear testament to this restored investor confidence is the market performance of the sukuk, which has climbed to over 90 cents from a low of 67.4 cents in April this year. The Minister further confirmed that the necessary funds are currently being mobilized, expressing full certainty that the sukuk will be successfully settled by April next year.
