While a significant amount has been spent on loan repayments, MVR 1.6 billion (USD 103.8 million) has been paid so far this year with interest. In addition to the loans, the government has to pay MVR 5.2 billion (USD 337.5 million) as interest on the loans.
MVR 1 billion (USD 64.9 million) has been paid towards repayments of state debt so far this year.
According to statistics released by the Ministry of Finance, MVR 2.2 billion (USD 142.8 million) has to be repaid this year.
So far, 45 percent of the debt has been paid.
While a significant amount has been spent on loan repayments, MVR 1.6 billion (USD 103.8 million) has been paid so far this year with interest. In addition to the loans, the government has to pay MVR 5.2 billion (USD 337.5 million) as interest on the loans.
The total state debt of the government rose to MVR 126 billion (USD 8.18 billion) at the end of the first quarter of this year.
This increase is mainly attributed to the rise in domestic debt, which went from MVR 72.8 billion (USD 4.72 billion) to MVR 74 billion (USD 4.80 billion) during the first three months of 2024.
The highest debt repayment is scheduled for 2026, where MVR 15 billion has to be repaid, marking the highest debt repayment in a single year in the Maldives' history.
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