Finance Ministry states that Indian government’s approval of the roll-over of the USD 50 million T-Bill underscores the continued confidence in Maldives.
The Indian government has approved the roll-over of the USD 50 million T-Bill, subscribed by the State Bank of India (SBI), upon its maturity on Thursday, September 18th.
The roll-over was confirmed during high-level discussions held between the two nations on Wednesday in the Maldives.
In this regard, the Maldivian delegation was led by Finance Minister Moosa Zameer, while the Indian delegation was led by the High Commissioner of India to the Maldives, G. Balasubramanian.
Finance Minister Moosa Zameer during a high-level discussion between Maldives and India on September 17, 2025. (Photo/Finance Ministry)
Following the meeting, Finance Ministry, via a statement, said the decision underscores the continued confidence in the Maldives and is a testament to the robust financial support extended by the Government of India to the Maldives.
The Ministry noted that both countries discussed the portfolio of significant development projects financed under the Government of India’s Lines of Credit (LOCs) during Wednesday’s meeting. The Ministry detailed that both sides engaged in a comprehensive review, addressing key challenges faced during implementation and agreeing on proactive measures to ensure their timely and successful completion for the benefit of the Maldivian people.
Furthermore, the Ministry said the meeting explored potential avenues to further enhance bilateral trade relations. Both parties expressed a shared commitment to identifying new opportunities for economic collaboration and increasing the volume of trade between the Maldives and India.
The meeting concluded with both sides reaffirming their dedication to the long-standing partnership, emphasizing a shared vision for mutual development and prosperity.
High Commissioner of India to the Maldives G. Balasubramanian during a high-level discussion between the two countries on September 17, 2025. (Photo/Finance Ministry)
Notably, the roll-over has been approved as the Maldives grapples with a fragile economy alongside high debt burdens.
It follows the roll-over of a USD 50 million T-Bill due on May 12th by an additional year.
During former Maldivian President Ibrahim Mohamed Solih’s administration, the SBI subscribed to three USD 50 million T-bills issued by the Male’ government.
One of the T-bills was repaid by the incumbent President Dr. Mohamed Muizzu’s administration in January 2024.
The Maldives has around USD 500 million in debt due this year, and another USD 1 billion in debt due next year.