Even though the final payment of USD 50 million for the USD 150 million loan taken from the State Bank of India during former President Ibrahim Mohamed Solih's administration was paid today, fully settling the loan, the Ministry of Finance has stated that there are no difficulties in importing essential goods to the Maldives.

Despite settling the USD 50 million debt today, arrangements for fuel and staple foods remain secured, the Ministry of Finance said in a statement released today.

"We assure the public that arrangements have been made for the uninterrupted supply of fuel, staple food items, and medical supplies," the Ministry's statement read.

"The funds settled today represent the final installment of the USD 150 million facility taken in tranches through the State Bank of India during former President Solih's administration in 2019. Under this facility, the current government paid USD 50 million in January 2024 and another USD 50 million on May 11, 2024. This debt, taken by the previous administration for budget support, has now been completely settled with today's payment of the final USD 50 million," the Ministry of Finance said.

According to Maldives Monetary Authority statistics, the Maldives' official reserves stood at approximately USD 644 million by the end of August 2026, the Ministry's statement noted.

The Ministry of Finance stated that this debt repayment will not cause any difficulties in obtaining foreign exchange needed to import essential goods. Arrangements to continuously provide fuel, staple foods, medicine, and other critical goods have already been established.

The Ministry further noted that ensuring the uninterrupted supply of essential goods and basic services is one of the government's highest priorities. Therefore, the Ministry refuted rumors claiming that debt repayment would create difficulties in sourcing funds for imports, calling them entirely baseless.

The Ministry stated that its debt management policy involves proactive and well-planned preparation for upcoming maturity dates. Additionally, regular deposits into the Sovereign Development Fund are ongoing.

In addition to these measures, the statement mentioned that the government is holding productive discussions with international financial institutions and development partners. These discussions are progressing successfully, and it is expected that they will bring further improvements to the Maldives' foreign exchange reserves.