In a demonstration of strengthening investor confidence and the success of the government's fiscal management, the price of the Maldives' sovereign Sukuk has significantly increased in recent months.
In 2021, the then government had issued a USD 500 million Sukuk, maturing in 2026, which requires semi-annual coupon payments—due in April and October.
The Sukuk, a key indicator of the international market's faith in the Maldivian economy, was trading at USD 87.44 on 7 July, a significant climb from USD 64.72 in early April 2025.
This upward trajectory is a direct reflection of the government's commitment to its financial obligations and its proactive approach to strengthening the nation's economic fundamentals, the Ministry of Finance and Planning said.
“A series of strategic financial manoeuvres have been instrumental in this market optimism,” it said
In March, the government successfully settled a significant repayment to a private creditor which was promptly followed by the settlement of the Sukuk coupon payment a month later.
According to the Ministry, these actions sent a clear and powerful signal to the global financial community of the Maldives' steadfastness in honouring its commitments, thereby bolstering investor confidence.
The government's commitment to fostering strong and collaborative international partnerships has yielded substantial positive results, including successful dialogues with major bilateral partners have been crucial in arranging a forthcoming refinancing package.
The Ministry said the surge in the Sukuk price is a clear vote of confidence from the international market, affirming the positive impact of the government's economic policies and its engagement with the global financial community.