Govt Raises MVR 3.8 Billion Through T-Bill Sale to Manage Cash Flow

The government raised MVR 3.8 billion through the sale of Treasury bills to finance state expenses, according to the Ministry of Finance. Four T-bills were issued with interest rates ranging from 3.50% to 4.60%. The sale comes amid fiscal pressure, with official reserves falling by US$40.5 million in May to US$815.8 million. Usable reserves rose to US$217.8 million. Credit rating agencies Moody's and Fitch have assigned high-risk ratings. Inflation rose 4.55% in May, with electricity prices up nearly 13%.

The government raised MVR 3.8 billion through the sale of Treasury bills to finance state expenses, according to the Ministry of Finance. Four T-bills were issued with interest rates ranging from 3.50% to 4.60%. The sale comes amid fiscal pressure, with official reserves falling by US$40.5 million in May to US$815.8 million. Usable reserves rose to US$217.8 million. Credit rating agencies Moody's and Fitch have assigned high-risk ratings. Inflation rose 4.55% in May, with electricity prices up nearly 13%.

The government raised MVR 3.8 billion through the sale of Treasury bills to finance state expenses, according to the Ministry of Finance. Four T-bills were issued with interest rates ranging from 3.50% to 4.60%. The sale comes amid fiscal pressure, with official reserves falling by US$40.5 million in May to US$815.8 million. Usable reserves rose to US$217.8 million. Credit rating agencies Moody's and Fitch have assigned high-risk ratings. Inflation rose 4.55% in May, with electricity prices up nearly 13%.

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