President Dr. Mohamed Muizzu has stated that the government has repaid a total of $524.68 million for the sukuk issued in 2021 during former President Ibrahim Mohamed Solih’s administration. He emphasized that this was achieved through the government's own economic strength without selling any fixed assets.

Speaking tonight at a gathering in Rasdhoo to celebrate the PNC's success in the recent local elections across three islands of Alif Alif Atoll, the President said the highest priority was given to repaying the major sukuk to save the nation from bankruptcy.

"By the grace of Allah, we have done it. We achieved this through the inherent strength of our economy without taking on massive new debts. We prioritized paying off the debt of over 500 million dollars that we inherited and was weighing on our citizens. God willing, we have completed that task," the President said.

The President noted that documentation confirms the full settlement of the sukuk. He highlighted that by completing the repayment, the government has recovered assets previously used as collateral, including Dharumavantha Hospital, the Ministry of Finance building, Iskandhar School, and the land where IGMH stands.

The President further added that the Maldives has made significant progress in debt repayment, which is the reason the country has avoided bankruptcy to this day.