President Dr Mohamed Muizzu has said the government repaid a USD 50 million loan due on May 11.
Speaking at a weekly press conference held at the President’s Office, the President said the current administration has continued repaying loans taken by previous governments, including USD 524 million in Sukuk payments and USD 400 million in currency swaps. He said the latest USD 50 million repayment was part of the USD 150 million loan secured from India.
The President stated that the government will continue efforts to ease the country’s debt burden while working for the benefit of the public. He also urged state officials to avoid spreading false rumours that could create public unrest or negatively affect the economy.
Addressing concerns over the impact of regional conflicts on tourism, the President said a special ministerial committee formed to monitor the Middle East situation has been consulting with relevant stakeholders.
