President Dr. Mohamed Muizzu has stated that the government holds adequate funds to meet its Sukuk obligations even if they were due at this moment, and confirmed that the government is scheduled to settle the USD 500 million Sukuk on April 8, 2026. Speaking at a press conference held today, the President highlighted that over USD 650 million has been set aside for Sukuk repayment. He further noted that the Maldives’ gross reserves currently stand at USD 1.27 billion, marking the highest level of gross reserves in the country’s history.
“As of last night, the Sovereign Development Fund (SDF) has accumulated over USD 320 million, while the usable reserves exceed USD 330 million. Therefore, a total of more than USD 650 million has been safely secured,” the President said. He also emphasized that extensive efforts are underway to secure additional funding required for this year and assured that there are no concerns regarding debt repayment.
“Very successful transactions are ongoing, and negotiations are nearing conclusion. There is no cause for concern regarding debt settlement; the economy is being managed in a manner that ensures both external and domestic debt obligations are met,” the President added. To date, the government has been making payments for the Sukuk in accordance with the established schedule.
