Gov’t turns to domestic market, seeks over MVR 1.8bn through T-Bill issuance
The ministry has cautioned that failure to settle payments by the due date may result in disqualification from participating in future government financial instruments.
500 Maldivian Rufiyaa notes | Raajje MV
The government has decided to raise more than MVR 1.8 billion from the domestic market through the issuance of short-term Treasury bills to meet state expenditure requirements.
According to an announcement by the Ministry of Finance and Planning, subscriptions for the T-bills opened on Sunday, with settlement scheduled for Monday. The issuance comprises bills with maturities ranging from 28 days to one year, with longer-term bills accounting for the largest share of the total amount.
The details of the T-bill issuance are as follows: 28-day Treasury bills totaling MVR 350 million at an interest rate of 3.50 percent; 98-day Treasury bills amounting to MVR 31.03 million at an interest rate of 3.87 percent; 182-day Treasury bills totaling MVR 245 million at an interest rate of 4.23 percent; and 364-day Treasury bills amounting to MVR 1.26 billion at an interest rate of 4.60 percent.
The breakdown of the T-Bills, issued as domestic debt, underscores the government’s immediate liquidity needs.
Applications for the Treasury bills must be submitted using the designated official forms within the specified timeframe.
The Ministry of Finance and Planning has also cautioned that failure to settle payments by the due date may result in disqualification from participating in future government financial instruments.
