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Statistics from the Ministry of Finance revealed that the former government, which ended its term on November 17, had acquired USD 3.5 billion (MVR 54 billion) in loans and guarantees.
In the ministry's report regarding state loans and debts, the previous government took 42 loans with a combined total of USD 2.7 billion (MVR 42 billion) in the past five years. Nine of these loans were needed for cash injections and capital for state-owned enterprises (SOEs), amounting to USD 750 million (MVR 11.5 billion).
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