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The government took a loan of USD 50 million (MVR 770 million) from the Bank of Maldives through the Maldives Airports Company Limited (MACL) to pay off a bond sold to State Bank of India (SBI) last month, Mihaaru News reports.
Citing an anonymous source identified as a senior figure with credible information, Mihaaru said that the government had to take the loan through MACL as the government itself had already reached its credit limit with the bank. The source said that the loan had been taken during December, 2023.
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