MALE’, Aug. 18 — Finance Minister Hassan Zareer has said the government’s continued repayment of external debt is strengthening investor confidence in the Maldives and creating better prospects for future investment.
Responding to a question from South Fuvahmulah MP Ibrahim Hussain, Zareer said the government has continued to meet its loan and financing obligations despite concerns over the country’s ability to service its debts.
He highlighted the government’s USD 524 million Sukuk repayment on April 2 and the subsequent USD 400 million currency swap repayment to India on April 23 as major recent debt payments.
According to Zareer, meeting these obligations has improved perceptions of the Maldives’ economic and credit position. He said investors he has met have expressed greater confidence in the country and interest in exploring investment opportunities.
The minister said maintaining regular debt repayments would further improve economic confidence and help create conditions for attracting larger investments.
Zareer also reiterated that the government is servicing its debts without selling state assets, while working to recover assets that had previously been mortgaged.
He said the progress made in meeting debt obligations is expected to reinforce investor confidence and support further economic investment.
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Mariyam Adheela
