Demonstrating its firm commitment to fiscal responsibility, the Government of Maldives has successfully completed the scheduled coupon payment of USD 24.6 million for the USD 500 million sukuk issued in 2021. The Ministry of Finance announced that this payment, due in October 2025, was settled on time in accordance with the instrument’s semi-annual repayment structure.
The sukuk, a Shariah-compliant financial certificate, was issued by the previous administration and carries semi-annual interest-like payments (coupons) due every April and October. With this latest installment paid in full, the next coupon payment of approximately USD 25 million is due in April 2026, which will mark the final installment before the sukuk reaches full maturity later that year.
According to the Ministry’s statement, repayments are being made consistently and as scheduled, reflecting the government’s prioritization of meeting debt obligations despite broader fiscal challenges. This continuity strengthens investor confidence, particularly among international stakeholders who closely monitor sovereign debt performance in emerging markets.
The Ministry emphasized that maintaining credibility in the international financial markets is one of the administration’s key fiscal objectives. The successful October coupon settlement serves as a clear indicator of the country’s continued capacity to honor its sovereign commitments, even amid rising global economic pressures. The administration has reiterated its intention to implement proactive financial strategies to preserve fiscal stability while meeting all outstanding obligations.
Responsible debt management is not only vital for long-term economic sustainability, but also essential in preserving the Maldives’ reputation as a reliable borrower in the international sukuk and bond markets. With this latest payment, the government reinforces its dedication to transparent and consistent financial governance, an approach that also supports tourism promotion efforts by reinforcing international confidence in the country’s economic fundamentals.
This strong financial stewardship ensures that investors, development partners, and visitors alike can remain assured of the Maldives’ macroeconomic resilience and its commitment to stable, long-term growth.