The Maldivian government has repaid MVR 2.28 billion in loans so far this year, according to the latest financial statements released by the Ministry of Finance.
The figures, published on Thursday, reveal that as of March 6, the government has settled 59% of the MVR 3.87 billion allocated for loan repayments in the 2025 budget.
Among the loans repaid this year is a $100 million loan taken from the US-based Cargill Financial Services International. The loan, secured during former President Ibrahim Mohamed Solih’s administration at an interest rate of 7.15%, required a total repayment of $126 million, including interest.
The government has reiterated its commitment to managing foreign debt obligations efficiently. President Dr. Mohamed Muizzu has previously stated that his administration is working on strategies to ease the repayment burden of external loans.
The figures, published on Thursday, reveal that as of March 6, the government has settled 59% of the MVR 3.87 billion allocated for loan repayments in the 2025 budget.
Among the loans repaid this year is a $100 million loan taken from the US-based Cargill Financial Services International. The loan, secured during former President Ibrahim Mohamed Solih’s administration at an interest rate of 7.15%, required a total repayment of $126 million, including interest.
The government has reiterated its commitment to managing foreign debt obligations efficiently. President Dr. Mohamed Muizzu has previously stated that his administration is working on strategies to ease the repayment burden of external loans.
