‘No Worries’: Muizzu Says Maldives Can Meet USD 500 Million April Payment
President Dr Mohamed Muizzu holds the first press briefing of 2026 in line with the commitment announced during this year’s Presidential Address to convene weekly briefings every Monday. | Photo: President’s Office
The Maldives has sufficient funds to meet a major debt repayment due in April, President Mohamed Muizzu said today, seeking to reassure markets amid concerns over the country’s external finances.
Speaking to reporters after several days, Dr Muizzu said the government would be able to settle a bullet repayment of USD 500 million, along with a final coupon payment of USD 25 million, both due on 8 April 2026.
“The government has decided to pay the USD 500 million sukuk on April 8, 2026. That is the due date. We have more than USD 650 million in savings to pay on April 8, 2026,” he said.
According to the president, the funds include more than USD 330 million in usable foreign exchange reserves and over USD 320 million held in the Sovereign Development Fund (SDF). He added that USD 150 million has already been paid towards the sukuk, and insisted there was “no concern” about meeting the remaining obligation.
President Muizzu said the country’s total reserves currently stand at USD 1.27 billion, describing this as a record level. He added that the reserves were also helping to cushion the Maldivian economy from the impact of the ongoing conflict in the Middle East.
The Maldives has faced increased scrutiny over its debt position in recent months, with investors closely watching its ability to meet upcoming external repayments.
