Saeed says Sukuk repayment boosted investor confidence
The government settled the Sukuk, which matured earlier this month, using funds from official reserves and the Sovereign Development Fund.
Minister of Economic Development Mohamed Saeed said on Tuesday that the Maldives’ repayment of its US$500 million Sukuk has strengthened investor confidence and reassured markets over the country’s ability to meet debt obligations.
The government settled the Sukuk, which matured earlier this month, using funds from official reserves and the Sovereign Development Fund.
Speaking at a press conference at the President’s Office, Saeed said the repayment was completed despite external concerns that the Maldives could face financial distress.
“The confidence of those investing in the Maldives has increased. Investors have been assured that the Maldives will not default,” he said.
He added that the payment had sent a signal to businesses and potential investors.
The Minister said progress in meeting the state’s external obligations was supported by policy measures introduced in 2024, including amendments to foreign exchange regulations and other fiscal steps taken by the government.
According to Saeed, those measures helped strengthen the country’s capacity to service debt and support financial stability.
The Sukuk repayment had been closely watched by markets, as it represented one of the country’s larger near-term external obligations.
