According to the latest statistics from the central bank, both the official and usable reserves of the Maldives experienced significant growth by the end of March. Official reserves have risen to $1.33 billion, while usable reserves reached $409 million. These figures represent the reserve levels prior to the settlement of a $500 million Sukuk. To facilitate this substantial debt repayment, the government fortified the Sovereign Development Fund (SDF) and implemented new foreign exchange regulations to bolster national reserves. Notably, the government successfully settled this debt without acquiring additional loans, utilizing the resources of the SDF and state reserves instead.
