Maldives Government Sells MVR 30 Billion in Treasury Bills

The Maldives government has sold MVR 30 billion worth of Treasury Bills (T-Bills) so far this year, according to the Ministry of Finance.

The government has issued MVR 16 billion worth of T-Bills to commercial banks, MVR 13.7 billion to other financial institutions, and MVR 100 million to the private sector. This is an increase of approximately MVR 4 billion compared to the same period in 2022, when the government sold MVR 22 billion worth of T-Bills.

The T-Bills sold include one-month repayments worth MVR 1.4 billion, three-month repayments worth MVR 2.2 billion, six-month repayments worth MVR 3.5 billion, and one-year repayments worth MVR 23 billion. The government also sold MVR 1.2 billion worth of Islamic Instruments.

Details of T-Bills Sold

As of Thursday, last week, the government has sold MVR 66 billion worth of T-Bills, bonds, and Sukuks. Out of the total, the total value of transactions in the Maldives is MVR 57 billion.

The government sells T-Bills through the central bank to manage its cash flow and they are typically sold to the Pension Fund, commercial banks, state-owned enterprises, and the private sector. Major T-Bill buyers in the Maldives include the Commercial Bank of Maldives and the Universal Group of Companies.