Maldives debt hit MVR69b by Q1-2020

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Maldives debt reaches MVR69 billion in total as of Q1-2020, which is an increase of 107% as per GDP.

Ministry of Finance on Tuesday revealed the latest on debt statistics, which detailed all external outstanding debts of the country.

As per the statistics, total state debt by end of 2019 was at MVR54.341 billion which was 62% of the country’s entire Gross Domestic Product (GDP). The state debt increased to MVR55.791 billion, which was 86% of the country’s GDP.

Total external budgetary central government debt by end of the first quarter of 2020, was at MVR21.744 billion and internal debt at MVR34.047 billion.

Additionally, the total guaranteed debt was at MVR13.302 billion, out of which MVR12.428 billion were external and MVR873 million were internal.

The data from Ministry of Finance further confirmed the total debt (public and and publicly guaranteed) as of the first quarter of 2020 was at MVR69.093 billion.

Under the total debt, MVR34.173 billion were identified as external and MVR34.920 billion as internal debt.

The Gross Domestic Product (GDP) of Maldives as of the first quarter of the current year was at MVR64.342 billion.

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