Statistics from the Ministry of Finance show that the Maldives has paid about MVR 1 billion in loan repayments and interest so far this year.

According to the ministry, MVR 636 million has been repaid in loans, while MVR 412 million has been paid as interest.

This year is expected to see significant debt repayments for the country, with the largest payment due next month for a $600 million Sukuk.

Speaking at a press conference this month, President Dr Mohamed Muizzu said the government does not expect difficulties in making the payment due on April 8.

The president also noted that discussions are ongoing with creditors to manage the Maldives’ debt obligations.