Funds Available for Essential Imports, Debt Repayment Managed Strategically: Finance Minister
18 ސެޕްޓެމްބަރު 2026 | ހުކުރު 07:28The Minister of Finance has provided assurances that there are no obstacles to importing essential goods and confirmed that the state is systematically managing its debt obligations according to plan.
Minister of Finance Hassan Zareer speaking at a parliamentary sitting. | Finance Ministry
Minister of Finance and Public Enterprises, Hassan Zareer, has stated that the government has established mechanisms to ensure an uninterrupted supply of essential goods, including food, fuel, and medicine, and confirmed that the necessary funds are available to facilitate these imports.
In response to rumors suggesting that the Maldives has depleted its foreign currency reserves to settle state debts, the Minister stated that under the guidance of President Dr. Mohamed Muizzu, the government is managing debt repayments with a high degree of responsibility and strategic planning. The Minister further provided assurances that funds are being consistently deposited into the Sovereign Development Fund, in strict adherence to the robust established protocols for debt servicing.
Furthermore, the Minister of Finance stated that there are no obstacles to importing food, medicine, and other essential commodities required by the Maldives, noting that the government has fully finalized the necessary financial arrangements for these imports.
The government has announced that it has settled outstanding Treasury bills (T-bills) issued to the State Bank of India (SBI) by the previous administration, as part of ongoing efforts to manage sovereign debt. With the final payment of $50 million towards T-bills originally issued in 2019, the government has now fully liquidated this specific debt obligation.
The Ministry of Finance has stated that the government is making successful strides in improving the country's fiscal position and managing its debt through these measures.
However, MDP Chairperson and former President Mohamed Nasheed stated that the T-bill had to be settled because it could not be rolled over, and was paid off using all available dollar reserves. Speaking on Thursday, Nasheed noted that the consequence of using all available dollars to settle the T-bill is the exhaustion of foreign currency circulating in the Maldivian economy. He emphasized that this is not an achievement to be celebrated or used to gain political leverage.
