President Dr Mohamed Muizzu has revealed that the Administration has successfully cleared a total of USD 924 million in debt within a 21-day period. He made the remarks at a press briefing held at the President's Office today.
The President stated that the Government met a USD 524 million sukuk repayment on 2 April and a USD 400 million currency swap repayment to India on 23 April — both settled without risking a national default, mortgaging additional assets, or compromising already encumbered state assets.
He further noted that the Government's fiscal efforts extend beyond external debt, as it remains steadfast in settling internal debts and outstanding dues to local vendors. He disclosed that between November 2025 and 26 April 2026, the Administration cleared MVR 3,300 million in outstanding bills owed to various local vendors, with a further MVR 260 million set to be paid in the remaining days of the current month.
The President reaffirmed the Administration's commitment to alleviating both internal and external debt burdens as part of broader efforts to ensure long-term economic stability and safeguard citizens' interests.