Friday 13 Mar 2026
Finance Minister Moosa Zameer (L) and President Dr. Mohamed Muizzu (R): The Minister states that the international community is no longer concerned Maldives will go bankrupt. (Photo/President's Office)
The Maldivian government is actively negotiating with two multilateral financial institutions to secure an additional USD 100 million. This capital injection aims to fortify the nation's foreign exchange reserves and mitigate fiscal pressures caused by rising global oil prices linked to ongoing Middle East conflicts. Finance Minister Moosa Zameer is coordinating these efforts with the Maldives Monetary Authority to ensure national economic stability. Despite these defensive measures, the government remains confident in its ability to manage upcoming debt obligations, including the USD 500 million sukuk payment due in April, supported by existing reserves and the Sovereign Development Fund.
Finance Minister Moosa Zameer says the government is in discussions with two international multilateral agencies to raise an additional USD 100 million to strengthen Maldives’ reserves as the Middle East conflict continues to create economic risks.
Zameer made the remarks on Thursday at a meeting of the nine‑member ministerial committee formed by the President to address the impact of the war on Maldives. When asked about measures to protect the country’s reserves, the minister said he is working closely with Maldives Monetary Authority (MMA) Governor Ahmed Munawwar.
According to Zameer, the additional USD 100 million is intended to help the government manage the rising costs associated with global oil price increases.
“I have sent a letter to the President today to obtain the final permission required by the Government of Maldives in consultation with these two agencies,” Zameer said, without disclosing further details.
The government is preparing to settle a USD 500 million sukuk on April 8. President Dr. Mohamed Muizzu previously stated that USD 650 million has already been secured for the repayment, and that the state will retain a surplus after the payment is made.
The President also said the Sovereign Development Fund (SDF) currently holds more than USD 320 million, while usable reserves stand at USD 330 million. He reiterated that the economy is expanding and the government is prepared to manage the challenges arising from the ongoing conflict.
