In a strategic move to finance its operations, the Maldivian government has announced the sale of Treasury bills (T-bills) totaling MVR 2.2 billion. The Ministry of Finance has detailed the offering as follows:
28-day T-bill: MVR 279 million
98-day T-bill: MVR 385 million
182-day T-bill: MVR 654 million
364-day T-bill: MVR 900 million
Interest rates for these instruments range from 3.50% to 4.60%.
T-bills are short-term debt securities issued at a discount and redeemed at face value upon maturity. In the Maldives, primary purchasers include the Pension Fund, various banks, state-owned enterprises, and select private companies.
The Maldivian government has a history of utilizing T-bills to manage its fiscal needs. Notably, in August 2012, the T-bill market was opened to private companies to deepen and diversify the investor base. More recently, in November 2024, the government offered T-bills worth MVR 4.2 billion to cover expenditures.
This latest issuance underscores the government’s ongoing reliance on T-bills as a mechanism to fund its operations and manage liquidity.
