The Government of Maldives and the Government of France and the Government of the United States of America have signed an agreement on the G-20 Debt Service Suspension Initiative (DSSI), to temporarily suspend debt-service payments owed to bilateral creditors.

The agreement with France was signed on behalf of the Government of Maldives by Omar Abdul Razzak, High Commissioner of the Maldives to Sri Lanka, and on behalf of the Government of France by Eric Lavertu, Ambassador of France to the Maldives.

The agreement with the USA was signed on behalf of the Government of Maldives by Omar Abdul Razzak, High Commissioner of the Republic of Maldives to Sri Lanka, and on behalf of the Government of the United States of America by Alaina Teplitz, Ambassador of the United States of America to the Maldives.

The agreement signed today will contribute directly to the Maldives’ ongoing economic recovery efforts, and will improve debt transparency and debt management amidst the present economic challenges.

In September this year, a Memorandum of Understanding (MoU) on the Treatment of Debt Services was signed by Ibrahim Ameer, Minister of Finance of the Maldives, and the representatives of a number of other creditor countries, including France.