News Desk
The government has settled USD 50 million in loans due today, President Dr Mohamed Muizzu said at his weekly press briefing this morning, outlining what he described as an unprecedented pace of debt repayment over the past six weeks.
According to the President, the administration has cleared USD 970 million in obligations in just 40 days. He said the latest payment relates to a USD 150 million facility taken by the previous MDP government in three instalments of USD 50 million each in March, June and October 2019, later deferred from 2020 onwards.
“We have also settled the USD 50 million taken by the previous government to be paid on 11 May this morning. So we have paid off USD 970 million in the past 40 days,” he said.
The current administration repaid USD 50 million of the deferred amount in 2024 and rolled over the remaining USD 100 million. The next instalment of USD 50 million is scheduled for 17 September 2026.
The President criticised what he described as deliberate attempts by senior figures to distort the government’s repayment record. “Another surprising thing is that their government took out these debts. We are the ones paying them. And they are worried because we are paying them,” he said, adding that such claims were intended to undermine the Maldivian economy.
He said the government was managing repayments while ensuring that essential commodities and fuel remain accessible to the public despite rising global oil prices. He also noted that support for Maldivian students abroad continues and that public sector salaries are being paid without disruption.
