MALDIVES: While acknowledging current debt repayment difficulties, the Maldives Finance Minister Dr Mohamed Shafeeq assured the country will meet its Sukuk obligation and meet the coupon payment of US$25 million when due on the 8th October 2024. As reported by the Maldivian news portal Avas, the minister said fresh loans will be obtained to refinance the lump-sum 2026 Sukuk outstanding into manageable instalments. Other initiatives include a US$400 million currency swap facility through the Reserve Bank of India and to sell a refinancing green bond.
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