President Dr. Mohamed Muizzu has confirmed that the Maldives remains financially prepared to meet its upcoming Sukuk repayment, with sufficient reserves in place to avoid any disruption.

Speaking at a press briefing at the President’s Office, the President stated that the country’s gross reserves currently exceed USD 1.2 billion, while usable reserves stand above USD 300 million.

He emphasised that preparations are on track to meet the Sukuk payment due on April 8.

President Dr. Muizzu noted that despite ongoing global economic uncertainties, the government continues to manage the economy prudently, ensuring that financial obligations are met without strain.

He also highlighted that essential commodities, including rice, sugar and flour, are being maintained at adequate levels, with no immediate concerns over shortages.

The government, he added, retains the capacity to stabilise prices of staple goods if required.

On development priorities, the President said ongoing projects will continue without delay through a mix of financing methods, including foreign assistance, loans and contractor financing.

He added that the focus this year will be on completing existing projects, with housing and healthcare identified as key priority sectors.