President confirm deferment of loans worth MVR13.4b


Maldives President Ibrahim Mohamed Solih confirm deferment of MVR13.4 billion worth of loans.

Earlier, Maldives government made the announcement of a loan moratorium to provide relief for local businesses and individuals.

The moratorium came into effect amid the Covid-19 pandemic led economic regression.

Moreover, President Solih on Tuesday’s conference confirms of total 22,973 loan moratorium requests from applicants. This is a total of MVR16.7 billion worth of loans.

Furthermore, President confirms 16,501 of the applicants have their requests approved for the moratorium.