President Muizzu Confirms Strong Financial Management as Maldives Prepares for $500 Million Sukuk Repayment

President Dr. Mohamed Muizzu has reaffirmed that the Maldives faces no risk of bankruptcy, assuring the public that all necessary financial arrangements have been made to meet the country’s upcoming debt obligations, including the USD 500 million Sukuk maturing in April 2026.

Speaking in Shaviyani Bilehfahi on Monday during his ongoing atoll tour, President Muizzu said the government’s economic management remains strong and on track. “We are meticulously planning and working on paying the Sukuk payment due next year. The work we are doing is progressing successfully, and it will be fully successful, God willing,” he said.

The President’s remarks come shortly after the government made a USD 24.6 million coupon payment on the 2021 Sukuk — a move he described as a demonstration of fiscal discipline and sound financial management.

President Muizzu noted that the Maldives’ reserves remain stable, and both domestic and external debt repayments are being made as scheduled. He added that discussions are ongoing with “friendly nations” to explore opportunities for restructuring or easing certain debt obligations to strengthen the country’s fiscal resilience.

“This government has no concerns about Sukuk payment matters for next year. Everything is arranged, and we are managing all these matters well while also achieving development goals that will benefit our people,” he emphasized.

In addition, President Muizzu pledged to clear all outstanding payments owed to private companies — including long-standing arrears inherited from the previous administration — within the next three weeks, reaffirming his administration’s commitment to fiscal responsibility and transparency.