Maldives’ Total Debt Reaches MVR 124 Billion

The Ministry of Finance has reported that the Maldives’ total debt reached MVR 124 billion by the conclusion of last year, according to its fourth quarter debt report.

This figure represents a debt-to-GDP ratio of 115.9 percent. The debt is distributed between internal and external sources, with MVR 73 billion classified as internal debt and MVR 51 billion as external debt.

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Comparatively, the total debt was recorded at MVR 108.4 billion at the close of 2022. 

The progression of debt throughout the year saw figures of MVR 113.6 billion, MVR 118.6 billion, and MVR 121 billion at the end of the first, second, and third quarters, respectively.