India Open to Offering Financial Support to Maldives
India is ready to assist Maldives with financial support as the risk of a sukuk default looms, according to the Economic Times citing Indian officials. The Maldives can access a $400 million currency swap under the RBI's programme and an $800 million line of credit from 2019. The matter is expected to be discussed during President Muizzu's upcoming visit to India. The Maldives faces a $25 million payment on its $500 million sukuk due in October. Finance Minister Mohamed Shafeeq assured no difficulty in making the payment. Reserves stand at $444 million, with usable reserves at $61 million. Total state debt is expected to reach MVR 129 billion.
India is ready to assist Maldives with financial support as the risk of a sukuk default looms, according to the Economic Times citing Indian officials. The Maldives can access a $400 million currency swap under the RBI's programme and an $800 million line of credit from 2019. The matter is expected to be discussed during President Muizzu's upcoming visit to India. The Maldives faces a $25 million payment on its $500 million sukuk due in October. Finance Minister Mohamed Shafeeq assured no difficulty in making the payment. Reserves stand at $444 million, with usable reserves at $61 million. Total state debt is expected to reach MVR 129 billion.
Low Confidence
Score: 0.50
India is ready to assist Maldives with financial support as the risk of a sukuk default looms, according to the Economic Times citing Indian officials. The Maldives can access a $400 million currency swap under the RBI's programme and an $800 million line of credit from 2019. The matter is expected to be discussed during President Muizzu's upcoming visit to India. The Maldives faces a $25 million payment on its $500 million sukuk due in October. Finance Minister Mohamed Shafeeq assured no difficulty in making the payment. Reserves stand at $444 million, with usable reserves at $61 million. Total state debt is expected to reach MVR 129 billion.
This story involves 1 source and may affect public understanding of financial support / sukuk default.
Angle: Primary coverage
Focus: India Open to Offering Financial Support to Maldives
Unique detail: India Open to Offering Financial Support to Maldives
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