Total outstanding government securities issued to finance the state budget have reached MVR 95.4 billion, according to the latest “Government Securities Outstanding” report released by the Maldives Monetary Authority (MMA).

The report highlights that the vast majority of this debt is held within the domestic market, accounting for MVR 93.8 billion of the total. In contrast, bonds issued to foreign parties stand at approximately MVR 1.5 billion.

A detailed breakdown of the domestic portfolio reveals that Treasury Bills (T-bills) issued in local currency amount to MVR 41.8 billion, with the highest concentration in one-year maturity bills. Additionally, the government has MVR 29.2 billion in Rufiyaa-denominated bonds and MVR 13.2 billion in US Dollar bonds (calculated in MVR). Securities issued under Islamic finance principles account for MVR 5.6 billion of the total outstanding debt.

The MMA statistics further indicate that the primary investors in these state securities are domestic commercial banks and financial institutions such as the Pension Fund. Significant investments have also been noted from the central bank itself and various State-Owned Enterprises (SOEs).