International coverage of the Maldives shifted this week after the government confirmed on 2 April that it had fully settled the USD 500 million Sukuk issued in 2021, along with the final coupon of about USD 24.68 million. The total payout of roughly USD 524.68 million was made using the Sovereign Development Fund and existing foreign currency reserves, without any new external borrowing. It closes out the country’s first international Islamic bond and the largest single debt obligation ever managed by the state. For nearly two years, the Sukuk had been framed abroad as a test of the Maldives’ fiscal … Continue reading Maldives’ Fiscal Achievement Draws Positive Attention Across International Media