Finance Minister Hassan Zareer said today that the repayment of the final USD50 million instalment of a USD150 million Treasury bill facility from the State Bank of India (SBI) will not affect the Maldives’ ability to import fuel and other essential goods.

The final instalment of the facility, which was obtained in 2019 during the administration of former President Ibrahim Mohamed Solih, was paid today.

Announcing the repayment in a post on X, Minister Zareer said the government manages its debt obligations by planning ahead and making regular deposits to the Sovereign Development Fund.

“The government under the leadership of President Dr Muizzu has been managing its debt obligations by planning ahead and regularly depositing money into the Sovereign Development Fund,” Minister Zareer said.

The Finance Ministry said the USD150 million facility was repaid in three instalments. The government paid USD50 million in January 2024, another USD50 million on May 11, and the final USD50 million today.

The ministry said the facility has now been fully repaid.