President Dr Mohamed Muizzu stated today that the Maldives possesses sufficient funds to immediately settle its USD 500 million sukuk obligation, affirming that the country’s external debt repayment is fully secured.
Speaking at the weekly “Hafthaa Press” conference this morning, the President said the government has accumulated more than enough liquidity to meet the major debt maturity scheduled for April 8, 2026.
“In short, even if the sukuk payment were due today, we have the necessary funds to settle it. The government is scheduled to repay the USD 500 million sukuk on April 8, 2026,” President Muizzu said.
He disclosed that over USD 650 million has been secured for this purpose. This includes more than USD 320 million held in the Sovereign Development Fund and over USD 330 million in usable reserves.
“We have currently secured more than USD 650 million to repay the sukuk. After paying the USD 500 million, a surplus of over USD 150 million will remain. As of last night, the Sovereign Development Fund exceeds USD 320 million, and the usable reserve stands at over USD 330 million. Therefore, we have more than USD 650 million in total at our disposal,” the President explained.
President Muizzu further revealed that the Maldives’ gross international reserves have reached USD 1.27 billion, the highest level recorded in the country’s history.
He added that parallel efforts to secure additional financing are progressing successfully, reinforcing fiscal stability. The President reassured that there are no concerns regarding the Maldives’ capacity to meet its external debt obligations.
The USD 500 million sukuk represents one of the most significant upcoming external repayments for the Maldives. The administration’s confirmation of full funding readiness sends a clear signal of financial preparedness and macroeconomic resilience.
