The Maldives has fully settled a USD 150 million Treasury Bill facility obtained through the State Bank of India (SBI) in 2019, with the government today repaying the final USD 50 million instalment.
Following the repayment, the Ministry of Finance has assured the public that arrangements are in place to ensure the continued availability of foreign exchange required to import essential goods, including fuel, food items, medicines and other vital supplies.
The USD 50 million payment made today was the final instalment of the USD 150 million facility secured by the administration of former President Ibrahim Mohamed Solih through the State Bank of India in 2019.
The facility was repaid in stages. The current government paid USD 50 million in January 2024, followed by another USD 50 million on May 11, 2024. With the repayment of the remaining USD 50 million today, the entire debt under the Treasury Bill facility has now been settled.
Despite the repayment of a significant amount of debt, the government has assured the public that sufficient foreign-exchange arrangements are in place to facilitate the uninterrupted import of essential goods required by the country, including food, fuel and medical supplies.
According to detailed statistics from the Maldives Monetary Authority (MMA), the Maldives’ official foreign-exchange reserves stood at approximately USD 644 million at the end of August 2026.
The government said the repayment of the debt will not create any difficulty in obtaining the foreign currency needed for essential imports. It said mechanisms have already been put in place to ensure the continuous supply of fuel, food, medicines and other important goods.
Ensuring uninterrupted access to essential goods and basic services is among the government’s highest priorities. The Ministry of Finance therefore said reports suggesting that debt repayments could create difficulties in obtaining foreign exchange for imports are unfounded.
The government said its debt-management policy is based on forward planning and ensuring that the necessary financial arrangements are made well ahead of debt repayment deadlines.
As part of these efforts, the government is also continuing to make statutory contributions to the Sovereign Development Fund.
In addition, the government is conducting high-level discussions with international financial institutions, development partners and individual countries. The Ministry of Finance said these engagements are progressing successfully and are expected t
