Saturday
27th Apr 2024
Dhivehi Edition
President Solih and Indian PM Modi. Photo: President's Office.
The total debt taken out by the Maldives from the Indian EXIM bank is estimated to reach MVR1.2 billion by next year.
The 2022 Budget proposal submitted to the Majlis estimates a total MVR9.7 billion debt to various banks and organisations. The largest debt is to the Indian EXIM bank.
It is estimated that MVR1.2 billion will be borrowed from the Indian EXIM bank next year. The second largest debt is predicted to be borrowed from OFID.
Similarly, MVR104 million from EIB, MVR121 million from the IDB, and MVR108 from the World Bank and MVR118 million from the AIIB.
The government plans to sell MVR3.8 billion in bonds to take on more external debt next year.