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Nasheed Warns Maldives Risks Debt Trap as High Interest Loans Pay Off Old Debt

Former president Mohamed Nasheed warned on Sunday that the Maldives risks falling into a debt trap if the government borrows at high interest rates solely to repay existing loans. Political figures cited reports that the administration is seeking financing above 14 percent through Cargill Financial Services International to repay a USD 500 million sukuk maturing on 8 April, a plan the government has not confirmed.

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Sources 1carried it 1 of 19 news outlets we monitor
Figures6as written, with their sentences

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.

How the reporting differs

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Figures in these reports

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  • exceeding 14 percent interest rate on reported refinancing financing Maldives Republic Political figures and media reports have claimed the administration is seeking financing at rates exceeding 14 percent through Cargill Financial Services International to repay a USD 500 million sukuk maturing on 8 April.

    Word for word from the report in Maldives Republic. Open the report

  • USD 500 million sukuk principal maturing Maldives Republic Political figures and media reports have claimed the administration is seeking financing at rates exceeding 14 percent through Cargill Financial Services International to repay a USD 500 million sukuk maturing on 8 April.

    Word for word from the report in Maldives Republic. Open the report

  • MVR 2.4 billion bond involving pension funds Maldives Republic Mariya linked recent resignations at the pension office to objections over an MVR 2.4 billion bond involving pension funds.

    Word for word from the report in Maldives Republic. Open the report

  • more than MVR 1 billion increase in salaries and wages Maldives Republic noting salaries and wages rose by more than MVR 1 billion in 2025 as spending outpaced revenue growth.

    Word for word from the report in Maldives Republic. Open the report

    Earlier reports gave more than MVR 1 billion 1 Feb, 16:17 Maldives Republic

  • 14 percent or higher interest rate Fayyaz Ismail said international markets would demand Maldives Republic He said international markets would demand interest rates of 14 percent or higher under current conditions.

    Word for word from the report in Maldives Republic. Open the report

  • as high as 17 percent refinance interest rate claimed by Abdulla Yameen Maldives Republic Former president Abdulla Yameen Abdul Gayoom claimed at a rally last week that the government is seeking to refinance the sukuk at interest rates as high as 17 percent.

    Word for word from the report in Maldives Republic. Open the report

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