T-bills worth MVR 2.2 billion have been opened for sale to cover government expenditure.


The Finance Ministry has offered a MVR 730 million T-bill with 28 days repayment and a MVR 100 million T-bill with a 98-days repayment. In addition, a MVR 447 million T-bill with 183-day repayment and a MVR 924 million T-bill with 364-day repayment period have also been announced.

The interest rate on the T-bills ranges from 3.50 percent to 4.60 percent.

T-bills are short-term financial instruments. The Maldives government issues T-bills at discounted prices in the local currency, with the face value repayable at the end of the specified repayment period. The T-bills the government sells are bought by the Pension Fund, some banks, and some government-owned companies. Some private companies also purchase T-bills.