The Ministry of Finance has today opened the sale of Treasury Bills (T-bills) totaling MVR 3.5 billion to raise funds necessary for government expenditures.

According to the Ministry, this latest offering consists of T-bills with four different maturity periods:

  • MVR 1.1 billion T-bill to be repaid by March 9th.
  • MVR 160 million T-bill to be repaid by May 18th.
  • MVR 1.05 billion T-bill to be repaid by August 10th.
  • MVR 1.2 billion T-bill to be repaid by February 8th of next year.

The interest rates for these T-bills range between 3.50 percent and 4.60 percent.

To meet this year's budgetary requirements, the government has already conducted T-bill sales earlier this month. Additionally, at the end of last year, the government opened the sale of T-bills worth MVR 1.8 billion.

Government T-bills are typically purchased by the Maldives Pension Administration Office, various commercial banks, and state-owned enterprises.

A Treasury Bill (T-bill) is a short-term government security used as a primary instrument for domestic borrowing.