The Government has deposited MVR 923 million into the Sovereign Development Fund (SDF) so far this year, the Ministry of Finance and Planning’s latest Weekly Fiscal Development Report has revealed.

The report states that deposits made to the SDF between 1 January and 14 May 2026 increased by 18 per cent compared to the same period last year, when MVR 776 million had been deposited.

During the same period, Government expenditure on debt repayments also rose significantly. The State spent MVR 8.6 billion on loan repayments, marking a 244 per cent increase compared to the MVR 2.5 billion spent during the corresponding period in 2025.

The repayments include debts maturing this year, including the USD 500 million sukuk issued in 2021 and the USD 400 million currency swap facility agreed during President Dr Mohamed Muizzu’s visit to India in 2024. The Government stated that these liabilities were settled using funds from the SDF and State reserves.

The SDF was established to support debt repayments, respond to economic shocks and finance major development projects. The fund operates separately from the Maldives Monetary Authority’s official reserves.

Established in 2016, the SDF is financed through revenue generated from Airport Development Fees, dividends from the Maldives Airports Company Limited (MACL), and additional income generated through increased airport service charges.