More than MVR 400 million has been deposited into the Sovereign Development Fund (SDF) so far this year.

According to the Weekly Fiscal Development Report released by the Ministry of Finance, a total of MVR 425.1 million was deposited into the Sovereign Development Fund as of the 19th of this month. This represents an 8.6 percent increase compared to the same period last year.

To date this year, MVR 809.6 million has been utilized for debt repayment.

The Sovereign Development Fund is a dedicated government fund established within the Maldives Monetary Authority (MMA) to manage potential emergencies, facilitate the repayment of foreign loans, and mitigate the impact of economic shocks.

On the second of this month, President Dr. Mohamed Muizzu stated that the Maldives' gross reserves have reached an unprecedented historical peak, noting that the gross reserves currently stand at USD 1.27 billion.