President Assures Reserves Stable as Sukuk Repayment Nears

Mohamed Hilmy

24 March 2026, 06:34

President Dr Mohamed Muizzu has stated that the Maldives’ foreign currency reserves remain stable despite ongoing geopolitical tensions, with preparations in place to meet upcoming Sukuk obligations.

Speaking at a press briefing, the President confirmed that total reserves exceed USD 1.2 billion, with usable reserves above USD 300 million as of March 18. He said the Sukuk repayment due this year will be settled by April 8 using available reserves and the Sovereign Development Fund.

The government is also taking measures to ensure fuel availability, with additional shipments secured and further deliveries expected next month.

Authorities are monitoring global oil price movements and working with private sector stakeholders to maintain adequate supply while minimizing cost impacts.

The President reiterated that maintaining economic stability remains a priority, with efforts focused on mitigating external risks to the country’s financial position.

President Assures Reserves Stable as Sukuk Repayment Nears

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