President Dr Mohamed Muizzu has declared that the Maldives is fully prepared to meet its upcoming USD 500 million sukuk repayment, emphasizing that the nation’s external debt position remains secure and firmly under control.
Addressing the media at the weekly “Hafthaa Press” briefing, the President projected confidence, stating that the government has already mobilized more than sufficient liquidity to honour the sovereign sukuk maturing on April 8, 2026. He underscored that even if the payment were due immediately, the country possesses the financial capacity to settle it without strain.
According to the President, the Maldives’ gross international reserves have climbed to USD 1.27 billion — the highest level ever recorded in the country’s history. He described this milestone as a clear indicator of strengthened fiscal management and improving financial resilience.
President Muizzu revealed that over USD 650 million has already been secured in preparation for the sukuk repayment. This includes more than USD 320 million accumulated in the Sovereign Development Fund, alongside upwards of USD 330 million classified as usable reserves. With these combined resources, the government maintains a substantial buffer well beyond the required USD 500 million obligation.
He noted that once the sukuk is repaid, the state will retain a surplus exceeding USD 150 million, further reinforcing fiscal stability. The President framed this achievement as the outcome of disciplined financial planning and proactive measures undertaken by his administration to safeguard the nation’s economic standing.
Reaffirming his administration’s position, President Muizzu stressed that there is no cause for concern regarding the Maldives’ ability to meet its external debt commitments. He asserted that ongoing efforts to secure additional financing continue to progress positively, further strengthening the country’s financial outlook.
The President’s remarks signal a deliberate message of assurance: the Maldives is not only prepared to meet its largest imminent debt maturity, but is doing so from a position of strength.
