President Dr Mohamed Muizzu has stated that the Government has sufficient funds to settle the USD 500 million Sukuk due on 8 April 2026, assuring that there are no concerns regarding the repayment.

Speaking at a press briefing on Monday, the President said more than USD 650 million has already been set aside for the Sukuk payment. He noted that the Maldives’ gross reserves currently stand at USD 1.27 billion, describing it as the highest level recorded in the country’s history.

Providing a breakdown of available funds, the President said over USD 320 million is held in the Sovereign Development Fund (SDF), while more than USD 330 million is available in usable reserves. He said the combined total exceeds USD 650 million earmarked to meet the upcoming obligation.

The President added that additional financing efforts for the year are progressing, and that negotiations and financial transactions have reached advanced stages. He stated that the Government is managing the economy in a manner that allows for the timely servicing of both external and domestic debt.