Sukuk
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BusinessGovernment to provide guarantee for BML sukuk
The Maldives government will provide a sovereign guarantee for BML’s $300 million sukuk to fund northern resort development. This move raises the state's guaranteed debt target to 15% of GDP. The initiative aims to boost tourism, expand the banking sector, and address dollar liquidity challenges without funding the state budget.
NewsSukuk or bond issue listed in budget for 2027
The government plans to issue a $175 million international bond or sukuk in 2027 to manage foreign debt, part of a $675 million three-year borrowing strategy. Despite past failures to enter the market and a "junk" credit rating, officials hope this move will ease financial pressure following a major reserve drawdown for previous repayments.
Business
Moody’s upgrades Maldives credit rating to Caa1
News
Government settles final $50 million debt to SBI
Business
Usable reserves drop below levels after settling sukuk
News
Authoritarian policies won’t fix USD shortage: Inaz
News
Government begins installment payments to small businesses
Business
Foreign exchange reserves drop for fourth consecutive month
Business
Usable reserves fall to USD 248 million
Business
Gross reserves decline, usable reserves see improvement
Report
Is BML's 'CCC-' rating a win?
Business
Fitch upgrades Maldives to ‘CCC-’ after sukuk payment
Business
Foreign reserves plunge to USD 717 million
Business
Maldives struggles to extend $400M India swap
Business
BML halts dollar support for imports
Business