Former president Abdulla Yameen Abdul Gayoom criticised the Muizzu administration over an alleged plan to borrow at a 17% interest rate to refinance a maturing $500 million sukuk. The article reports that, according to reliable sources, the government plans to borrow about $300 million from Cargill Financial Services International, though no such plan has been publicly disclosed.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
Speaking at a People's National Front (PNF) rally on Thursday night, Yameen said the government was seeking a high-interest loan to meet upcoming debt obligations linked to a $500 million sukuk due on 8 April.
Word for word from the report in Maldives Republic. Open the report
That rate reflects the credit standing today. No country would choose to borrow at such a level, whether short term or long term,
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Yameen Slams Alleged 17% Loan Plan to Refinance Sukuk... calling the move reckless and harmful to the country's finances.
Word for word from the report in Maldives Republic. Open the report
Yameen said the government was seeking a high-interest loan to meet upcoming debt obligations linked to a $500 million sukuk due on 8 April.
Word for word from the report in Maldives Republic. Open the report
the government plans to borrow about $300 million from Cargill Financial Services International to refinance the sukuk. The government has not publicly disclosed any such borrowing plan.
Word for word from the report in Maldives Republic. Open the report
while authorities place total debt at MVR 160 billion, the actual figure is far higher.
Word for word from the report in Maldives Republic. Open the report
