The Government of Maldives has repaid USD 100 million of a USD 150 million loan originally obtained from India in 2019, with President Dr Mohamed Muizzu confirming that the latest USD 50 million installment was settled on 11 May as part of the administration’s wider strategy to strengthen the country’s financial position and reduce inherited debt obligations. Addressing local journalists at the weekly press conference, the President stated that the loan had been secured by the previous administration through three separate transactions and was among the financial commitments inherited when the present government assumed office. He said the repayment progress reflects the government’s focused approach to restoring fiscal stability and ensuring that national financial management remains disciplined and forward-looking.
President Muizzu explained that the repayment completed on 11 May follows an earlier USD 50 million payment made in January 2024, bringing the total amount repaid under this specific loan arrangement to USD 100 million. He further noted that the remaining USD 50 million is scheduled to be settled on 17 September this year, adding that the government has already made the necessary arrangements to meet that final obligation on time. The President’s remarks highlighted the administration’s confidence in its debt management planning and its intention to honour external commitments in an orderly and responsible manner.
The President also placed the repayment within the broader context of the Maldives’ recent financial performance, noting that the government has repaid a total of USD 974 million in obligations over the past 40 days, including sukuk instruments, currency swaps, and loans. This, he said, demonstrates the scale of the administration’s efforts to address major liabilities while working to safeguard macroeconomic resilience. For international observers and financial stakeholders, the repayment signals continued attention by the Maldivian government to debt servicing, credibility, and the maintenance of confidence in the country’s economic direction.
President Muizzu said these efforts are being undertaken with the welfare of the Maldivian people in mind, stressing that the administration’s objective is to reduce the burden of large debts and create a more secure economic future for the nation. He expressed hope that the government would continue to relieve the country of such obligations in the period ahead, describing debt reduction as part of a broader responsibility to protect the national interest and support long-term development. His comments presented the repayment not merely as a financial transaction, but as part of a sustained effort to improve economic governance and reinforce stability.
During the press conference, the President also voiced concern over what he described as unfounded remarks by certain former senior officials, saying such statements risk creating unnecessary public anxiety and harming the Maldives’ international standing at a time when the country is pursuing economic recovery and financial consolidation. He called on those individuals to refrain from actions that could undermine national progress, emphasising that this is a period in which unity, confidence, and responsible public discourse are especially important. His remarks reflected the administration’s view that maintaining trust, both domestically and internationally, remains essential as the Maldives continues its efforts to strengthen its economy and fulfil its financial commitments with discipline and clarity.
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