President Dr Mohamed Muizzu said the government has paid MVR 3.3 billion in outstanding dues to local vendors over the past six months, describing the payments as part of a broader effort to stabilise the Maldivian economy while maintaining financial discipline and meeting national obligations on time.
Speaking at his weekly press conference held at the President’s Office, the President said the administration remains focused on supporting businesses and individuals who have delivered work through ministries and state-linked institutions, while also ensuring that the country continues to meet its financial responsibilities without default. He stated that between 1 November 2025 and 23 April 2026, the government settled MVR 3.3 billion in payments owed to local vendors and businesses for work carried out across various sectors.
President Muizzu noted that these payments represent dues owed for services and projects undertaken by Maldivian citizens and companies, underlining the administration’s commitment to honouring payments for completed work. He said the settlement of long-pending bills is intended to ease pressure on the domestic business community, improve cash flow for local enterprises, and reinforce confidence in the government’s financial management. He added that payments are currently being made to around 800 vendors each week, with a further MVR 260 million in bills expected to be settled before the end of the month.
The President’s remarks reflected the government’s emphasis on restoring confidence among local businesses while keeping the wider economy on a steady path. Timely settlement of dues to vendors is seen as an important measure in supporting economic activity, particularly for companies that rely on government contracts and services. The continued disbursement of payments is also expected to assist businesses in maintaining operations, meeting their own obligations, and contributing to employment and commercial continuity across the country.
President Muizzu also said the government has continued to service its foreign debt on schedule, pointing to MVR 924 million repaid over the past 21 days. He stated that this included a USD 524 million sukuk repayment made on 2 April and a further USD 400 million settlement of the India swap facility on 23 April. He said these repayments were made without allowing the country to face any form of default, describing the outcome as an important sign of financial resilience and responsible economic stewardship.
The update comes as the administration continues to place priority on fiscal stability, debt management, and the strengthening of confidence in the Maldivian economy among citizens, businesses, and international stakeholders. President Muizzu’s remarks presented the recent payments to both local vendors and external creditors as part of a coordinated effort to safeguard the country’s financial standing while ensuring that commitments to the domestic private sector are fulfilled in a timely and responsible manner.
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