Minister of Finance And Public Enterprises Hassan Zareer has said the successful repayment of the Maldives' Sukuk has strengthened investor confidence and reinforced the trust of international financial institutions in the country's economy.

Speaking at the inaugural Maldives Financial Sector Awards organised by the Maldives Monetary Authority (MMA), minister Zareer said the repayment was made possible through prudent fiscal planning and close coordination among state institutions. He added that the repayment had also contributed to a decline in the country's debt burden, with the debt ratio continuing to improve.

The minister said the Maldives' sovereign credit rating had also improved over the past year, describing it as a reflection of growing confidence among investors and international financial institutions in the country's economic management.

Minister Zareer credited the Maldives Monetary Authority for its role in the process, saying the central bank had worked closely with the Ministry of Finance in meeting the state's financial obligations and safeguarding the country's economic interests. He said the cooperation between the two institutions had been instrumental in ensuring the successful repayment of the sovereign Sukuk.

He emphasised the importance of continued collaboration between the Ministry of Finance and the MMA in implementing fiscal and monetary policies to maintain financial stability and support sustainable economic growth. According to the minister, such coordination would help the Government meet its financial commitments without placing unnecessary pressure on the public or the wider economy.

The minister also called for continued structural reforms to address economic challenges and further strengthen the country's financial system. While acknowledging that some policy decisions may be difficult, he said they were necessary to protect the national interest and secure long-term benefits for future generations.

Concluding his remarks, minister Zareer reaffirmed the Government's commitment to working closely with the MMA and other stakeholders to strengthen the country's economic foundations and honour its fiscal commitments.