News Economy / government achievement Maldives Impact 9.0/10 2 min read

President Muizzu says USD 1.29 billion paid to clear debts inherited from previous governments

President Dr Mohamed Muizzu announced that his administration has repaid approximately USD 1.29 billion in foreign debt over the past two and a half years, highlighting the financial burden inherited from previous governments. Speaking in Dh. Meedhoo, he contrasted this with USD 428.68 million repaid during the first two years of the MDP administration and USD 191.25 million under former President Abdulla Yameen. The debt repaid includes USD 891.2 million from 2018-2023, USD 195.7 million from 2013-2018, USD 62.5 million from 2008-2013, and USD 38.1 million from before 2008. Outstanding debt remains: USD 1.14 billion from 2018-2023, USD 710.4 million from 2013-2018, USD 150.4 million from 2008-2013, and USD 106.3 million from before 2008. The current administration has added USD 219.7 million in debt. The debt-to-GDP ratio declined from 123.6% to 121.2%.

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Jun 15, 2026

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President Dr Mohamed Muizzu announced that his administration has repaid approximately USD 1.29 billion in foreign debt over the past two and a half years, highlighting the financial burden inherited from previous governments. Speaking in Dh. Meedhoo, he contrasted this with USD 428.68 million repaid during the first two years of the MDP administration and USD 191.25 million under former President Abdulla Yameen. The debt repaid includes USD 891.2 million from 2018-2023, USD 195.7 million from 2013-2018, USD 62.5 million from 2008-2013, and USD 38.1 million from before 2008. Outstanding debt remains: USD 1.14 billion from 2018-2023, USD 710.4 million from 2013-2018, USD 150.4 million from 2008-2013, and USD 106.3 million from before 2008. The current administration has added USD 219.7 million in debt. The debt-to-GDP ratio declined from 123.6% to 121.2%.

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