Economy government spending / finance Maldives Impact 8.0/10 2 min read

Government Reportedly Utilised ‘Significant’ Portion of SDF Funds

The Muizzu administration has used a significant portion of the Sovereign Development Fund (SDF) deposits. Originally at $2 million when Muizzu took office, the fund grew to $70 million, but recent withdrawals have reduced it to approximately $20 million. Funds were used to pay off a Housing Development Corporation loan. The SDF was established in 2017 under Yameen, and the administration had aimed for a MVR 9.7 billion reserve by end of 2024.

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Maldives Republic

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Oct 11, 2024

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📋 Story Brief

The Muizzu administration has used a significant portion of the Sovereign Development Fund (SDF) deposits. Originally at $2 million when Muizzu took office, the fund grew to $70 million, but recent withdrawals have reduced it to approximately $20 million. Funds were used to pay off a Housing Development Corporation loan. The SDF was established in 2017 under Yameen, and the administration had aimed for a MVR 9.7 billion reserve by end of 2024.

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This story involves 1 source and may affect public understanding of government spending / finance.

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Maldives Republic News Outlet Single source

Angle: Primary coverage

Focus: Government Reportedly Utilised ‘Significant’ Portion of SDF Funds

Unique detail: Government Reportedly Utilised ‘Significant’ Portion of SDF ...

📅 Timeline

17:04

Initial report published

Maldives Republic

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Official government or institutional statement

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