President Assures Timely Repayment of USD 500 Million Sukuk by April 8, 2026

President Dr Mohamed Muizzu has assured that the government will fully repay the USD 500 million sovereign Sukuk by its maturity date of April 8, 2026, stating that financial arrangements are already in place to meet the obligation.

Speaking at a press conference at the President’s Office today, the President said the administration has established the necessary mechanisms to ensure the settlement of the Sukuk, which was issued under the previous administration.

He disclosed that the Sovereign Development Fund currently holds more than USD 320 million earmarked for the repayment. In addition, over USD 330 million has been specifically allocated within the country’s usable reserves to support the settlement, strengthening the government’s capacity to meet the upcoming maturity.

The Sukuk represents one of the largest external debt obligations due next year and its repayment has been closely monitored by market participants and international partners. The President’s remarks are expected to provide reassurance regarding the state’s liquidity position and debt management strategy.

Dr Muizzu also said the government is actively working to secure the required financing for the upcoming year. According to the President, discussions with international financial institutions to obtain the remaining funds needed for 2026 are in their final stages.

The maturity of the USD 500 million Sukuk is viewed as a critical test of the Maldives’ external debt servicing capacity. The administration’s confirmation that dedicated funds have been accumulated through the Sovereign Development Fund and reserve allocations signals a structured approach to meeting sovereign obligations.

With the April 2026 deadline approaching, the government’s ability to execute the repayment as outlined will carry implications for investor confidence, access to external financing and the country’s broader fiscal stability.