Ministry of Finance and Planning has announced that the Maldivian government has paid USD 24.6 million in coupon payments for the USD 500 million Sukuk issued in 2021. The coupons are due biannually, in April and October, with the final payment scheduled for April next year when the Sukuk reaches maturity.

According to the Finance Ministry, the government will pay the final coupon instalment of USD 25 million for the principal repayment of USD 500 million upon maturity. The ministry emphasised that meeting debt obligations on time remains one of the government’s top fiscal priorities.

The ministry further stated that the successful completion of the latest coupon payment reflects the government’s commitment to responsible debt management and maintaining the confidence of international investors.

Preparations are underway for the final settlement of the Sukuk next year, with the ministry reaffirming its dedication to financial stability and debt sustainability.

The government continues to face challenges in servicing debts accumulated by the previous administration but has engaged in discussions with key partners, including India and China, to ease repayment conditions. The Maldives’ external debt is projected to approach USD 1 billion by 2026.