Finance Minister Mr. Ibrahim Ameer has ensured the ministry will be disclosing full details of all sovereign guarantees and outstanding external loan debts.
While responding to queries raised during the parliament budget committee sitting finance minister Mr. Ameer asserted the government body was currently attending to acquire all relevant details on sovereign guarantees and state acquired loans of the previous government.
Mr. Ameer ensured full disclosure of the mentioned details, as he said “we will reveal the sovereign guarantee details soon. We want to present the details as accurate as possible.”
Finance Ministry recently revealed four of the state-owned corporations were provided with sovereign guarantees which includes the loans provided to STO (MVR 3.7 billion), HDC (MVR 2.9 billion) and STELCO (MVR 589 million).
Moreover, the previous government had also provided guarantee for the MVR 57 million loan of MIFCO as well.
Mr. Ameer further claimed the ministry will be auditing all major state-owned corporations to seek possibilities of any discrepancies, followed by imposing new strategies to better manage the said corporations.