President Dr Mohamed Muizzu has announced that the Maldivian government settled a USD 50 million debt repayment due on May 11 as part of its ongoing efforts to manage inherited financial obligations and strengthen fiscal stability.

The announcement was made during the weekly press briefing held at the President’s Office, where the President outlined the administration’s progress in debt servicing and broader economic management.

According to the President, the current administration has so far repaid a total of USD 974 million in legacy debt accumulated under previous governments.

This figure includes USD 524 million in Sukuk repayments as well as a USD 400 million currency swap settlement.

The USD 50 million payment completed today was identified as part of a USD 150 million loan facility extended by India during the previous administration, with the repayment falling due on May 11, 2026.

The President stated that the government remains focused on reducing the national debt burden while maintaining long-term fiscal sustainability and fulfilling the country’s financial obligations in a responsible manner.

During the briefing, President Dr Muizzu also called on former senior state officials to avoid spreading misinformation that could undermine public confidence and negatively affect the economy.

The President further noted that the government is assessing ways to assist the tourism industry in addressing the economic effects of ongoing international conflicts.