News Desk
Finance Minister Moosa Zameer says the Maldives will face no difficulty in repaying the $500 million (MVR 7.7 billion) sukuk issued by the former administration in 2021, which is due for settlement in April.
President Dr Mohamed Muizzu had recently stated that the funds raised through the sukuk had already been exhausted by the previous government, but assured that the repayment would be made on 8 April as scheduled.
Responding to a journalist’s question at a press conference held at the President’s Office today, Zameer said that although the Middle East conflict has affected reserves and state revenue, the repayment plan remains unchanged.
“As the President said in his earlier statement, the sukuk will be paid on schedule,” Zameer said.
He noted that the government has already secured over $650 million to meet the obligation. Of this, $320 million is held in the Sovereign Development Fund (SDF), while $330 million is available in usable reserves.
Zameer added that while global oil prices have surged since the conflict began — doubling in some cases — the government has prepared measures to contain the impact.
