Economy Foreign Loans / debt Maldives Impact 8.0/10 1 min read

Gov't to secure MVR 6.6bln from foreign banks for budget support

The government plans to secure MVR 6.6 billion from foreign commercial banks for next year's national budget support. Additionally, it seeks MVR 5.1 billion as loans, and will spend MVR 2.6 billion on foreign loan repayment. Domestically, the budget aims to raise MVR 5 billion in securities and loans, transfer MVR 2 billion from the Sovereign Development Fund, and expects MVR 135 million from loans issued. Domestic debt repayment will cost MVR 1.1 billion.

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Nov 5, 2024

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The government plans to secure MVR 6.6 billion from foreign commercial banks for next year's national budget support. Additionally, it seeks MVR 5.1 billion as loans, and will spend MVR 2.6 billion on foreign loan repayment. Domestically, the budget aims to raise MVR 5 billion in securities and loans, transfer MVR 2 billion from the Sovereign Development Fund, and expects MVR 135 million from loans issued. Domestic debt repayment will cost MVR 1.1 billion.

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Focus: Gov't to secure MVR 6.6bln from foreign banks for budget support

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