The Ministry of Finance has stated that a total of MVR 2.2 billion in loans have been repaid so far, including the USD 100 million (MVR 1.5 billion) loan taken from Cargill Financial Services International (CFSIT) of the United States during former President Ibrahim Mohamed Solih's government.

The MDP government borrowed USD 100 million from Cargill Finance in 2022 to cover government expenses. The loan was taken at an interest rate of 7.15 percent. As a result, USD 126 million dollars (MVR 1.9 billion) had to be repaid including interest.

While the government has stated that this loan has been repaid this month, according to the financial statistics revealed by the Ministry of Finance on Thursday, a total of MVR 2.28 billion in loans have been repaid as of the 6th of this month.

This is 59 percent of the amount allocated for loan repayment in this year's approved budget. The approved budget for this year allocated MVR 3.87 billion for loan repayment.