local

Maldives settles final $50 million treasury bill to State Bank of India after extension request denied

The Maldivian government has fully settled a $150 million credit facility obtained from the State Bank of India under Indian government assistance, completing the repayment according to the original schedule. While the Ministry of Finance acknowledged that the settlement has placed temporary pressure on national reserves, it reassured the public that necessary arrangements are in place to secure the foreign exchange required for the importation of essential goods.