Reserve Bank of India (RBI)
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NewsGovernment settles final $50 million debt to SBI
The government has fully repaid a $150 million debt to the State Bank of India, settling the final $50 million installment this month. The debt, originally incurred in 2019, was cleared in three stages under the current administration. This payment is part of a broader $2.3 billion effort to service foreign debt over the last two years.
BusinessForeign reserves plunge to USD 717 million
The Maldives' foreign reserves dropped to USD 717 million after settling USD 924 million in debt, including a major sukuk and an Indian currency swap. While usable reserves fell to USD 244 million, a new 30-billion-rupee facility from India helped stabilize the situation amid declining tourism revenue.
