President Dr. Mohamed Muizzu has reaffirmed that the Maldives faces no risk of bankruptcy, declaring that all arrangements are in place to meet the country’s upcoming financial obligations — including the final payment of the $500 million Sukuk due in April 2026.
Speaking at a gathering held in Sh. Bilehfahi as part of his atoll tour, the President emphasized that the government’s economic management is strong, steady, and on track. “We are meticulously planning and working on paying the Sukuk payment due next year. The work we are doing is progressing successfully, and it will be fully successful, God willing” President Muizzu said.
His remarks follow the government’s recent payment of $24.6 million in coupon dues for the Sukuk issued in 2021 — a clear signal, he said, of fiscal discipline and sound financial planning under his administration.
The President assured citizens that the Maldives’ reserves are in a stable condition, and that both domestic and foreign debts are being serviced on schedule. He also highlighted the government’s ongoing discussions with friendly nations to restructure and ease certain debt repayments “in various ways” reflecting a proactive diplomatic and economic approach.
Rejecting unfounded speculation about national insolvency, President Muizzu stated unequivocally, “This government has no concerns about Sukuk payment matters for next year. Everything is arranged, and we are managing all these matters well while also achieving development goals that will benefit our people”.
In addition to ensuring debt commitments, the President reiterated his pledge to settle all outstanding bills owed to private companies — including millions in unpaid dues inherited from the previous administration — within the next three weeks.
President Muizzu’s message reflects a broader theme of his leadership: financial stability coupled with continued development. As the administration continues to expand infrastructure and social projects across the nation, the President underscored that economic confidence and national progress are moving hand in hand.
