The state will be selling sovereign bonds of USD 150 million in 2019, reveals the government’s proposed annual budget for next year.

2019 will be the third consecutive year of selling sovereign bonds. Maldives first sold bonds in 2017, and a total of USD 200 million had been sold and 250 million was sold this year.

The Finance Ministry’s statistics also show a significant rise in foreign debt, at 70 percent this year in comparison to 2017.