Maldives Clears USD 50 Million India Loan Installment

The Maldives has repaid USD 50 million to India today. The payment forms part of a USD 150 million loan taken by the previous government in 2019.

President Dr. Mohamed Muizzu confirmed the payment at a press briefing. He said the loan was drawn in three tranches under the Ibrahim Mohamed Solih administration. It was repeatedly rolled over without repayment before the current government inherited the liability.

The government cleared the first USD 50 million installment on 7 January 2024. Today's USD 50 million payment meets the 11 May deadline. A final USD 50 million remains due on 17 September 2025. President Muizzu pledged that payment will also be met on time.

In a broader fiscal update, the President stated that the government has repaid USD 974 million in total obligations over the past 40 days. The figure covers sukuk, currency swaps, and loan repayments.

President Dr. Muizzu said debt reduction is a national priority. "We are doing this for the wellbeing of our people, to free them from the burden of debt," he said.

The President also cautioned former officials against spreading what he described as unfounded claims about the country's economy, warning such statements damage investor confidence and the nation's financial reputation.

Maldives Clears USD 50 Million India Loan Installment

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