Thursday 20th Jun 2024
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State Debt

45% of Loans Disbursed So Far This Year, Says Finance Ministry

According to data from the Finance Ministry, the Maldives has paid MVR 1 billion towards loan repayments this year. This amounts to 45% of the MVR 2.2 billion total repayment obligation for 2024. Additionally, MVR 1.6 billion has been paid in interest on the debt, with the state required to pay a total of MVR 5.2 billion in interest this year.
At the end of the first quarter of the current fiscal year, the state's total debt stood at MVR 126 billion. The highest debt repayment is scheduled for 2026, when the state will need to allocate MVR 15 billion for debt repayment.