Minister Says State Revenue Can Cover Future Debt Repayments

Finance Minister Hassan Zareer has said the Maldives expects to meet its upcoming debt repayments using state revenue, without facing the same level of financial pressure experienced this year.

Speaking at the 10th Ahaa Forum on 18 October, Zareer said the government is preparing for future obligations by contributing to the Sovereign Development Fund (SDF), increasing revenue and controlling state expenditure.

He said the government had spent around US$1.4 billion on debt repayments during its first two and a half years in office, as of 8 October.

Zareer also highlighted efforts to increase foreign currency inflows, noting that a significant portion of the country’s debt is denominated in foreign currency.

The minister said the government aims to strengthen public finances and reduce the burden of debt repayments in the coming years.