President Dr Mohamed Muizzu has announced that the Maldives has successfully repaid a $526 million sovereign sukuk, stressing that the settlement was achieved without selling state assets or taking on new high-interest debt.
Speaking at a post-election gathering in AA. Rasdhoo, Muizzu said the repayment was made through domestic financial capacity, a move he described as critical to maintaining economic independence and stability.
According to the president, the settlement also safeguarded several major state assets that had been tied to the debt, including Dharumavantha Hospital, the Ministry of Finance complex, Indira Gandhi Memorial Hospital land, and Iskandhar School premises.
He added that official records held by the Maldives Monetary Authority and the Ministry of Finance verify the government’s claims, dismissing opposition criticism over the handling of the debt.
Muizzu further noted that the administration has avoided defaulting on international obligations while working to settle outstanding payments owed to local businesses. He said contractor financing schemes facilitated through the Bank of Maldives have already enabled projects worth billions of rufiyaa to support the private sector.
The president acknowledged ongoing global economic pressures but said measures are in place to shield citizens from external shocks.
