The Ministry of Finance has announced the successful payment of $24.6 million as the October coupon installment for the $500 million sukuk issued by the Government of Maldives in 2021, reaffirming the administration’s strong commitment to honoring debt obligations and sustaining fiscal credibility.
According to the Ministry, the semi-annual coupon payments, scheduled for April and October, have been paid on time since the issuance of the sukuk during the previous administration. The bond will mature in April 2026, when the government is due to make the final coupon payment of $25 million along with the principal repayment of $500 million.
Officials from the Ministry emphasized that timely debt servicing remains a top priority for the administration of President Dr. Mohamed Muizzu, highlighting that the latest payment underscores the government’s consistent efforts to uphold financial stability, maintain international investor confidence, and safeguard the nation’s creditworthiness.
Despite inheriting substantial debt liabilities from the previous government, the current administration continues to meet all obligations without delay. The Ministry noted that constructive negotiations with key partners, including India and China, have already led to relief arrangements on some bilateral loans — a move that reflects the President’s proactive diplomacy in ensuring sustainable fiscal management.
Looking ahead, the government faces an estimated $1 billion in external debt repayments next year, including the sukuk settlement. Nevertheless, the Ministry reaffirmed that the administration remains fully prepared to honor these commitments while pursuing strategic fiscal measures to strengthen economic resilience and public confidence in the Maldivian economy.
This latest payment demonstrates that, under President Muizzu’s leadership, the Maldives continues to protect its financial reputation internationally — proving that responsible governance and disciplined debt management remain central pillars of the nation’s economic recovery strategy.
