Maldives' total debt at MVR 148.9 billion

At the end of this year's second quarter, Maldives' total debt has risen to MVR 148.9 billion, Finance Ministry statistics indicate. 

Debt statistics of the second quarter of 2025 show that the total debt includes MVR 127.8 billion taken directly by the State and MVR 21.1 billion for which the State has granted guarantee. 

A large part of the State debt is owed to domestic loans. At the end of the second quarter, MVR 85.8 billion has been taken from the domestic market. This is an approximately MVR 1.8 billion increase from the first quarter. 

Foreign debt is also higher compared to the first quarter. The figure, which stood at MVR 41.4 billion in the first quarter, has risen to MVR 42 billion in the second quarter. 

Debts from government guarantees has seen a decrease. This figure stood at MVR 21.4 billion in the first quarter, but has dipped to MVR 21.1 billion in the second quarter. 

In terms of GDP, total debt has been maintained at a similar level from one quarter to the other.

As such, total debt was at 122.2 percent in terms of GDP in the first quarter, with it raised to 124 percent at the end of the second quarter. 

As per Finance Ministry's statistics, the State spent MVR 3.5 billion for debt repayment in the second quarter. This includes MVR 1.9 billion as principal payment and MVR 1.6 billion in interest. 

With debt carried forward from previous administrations, the highest portion of the total MVR 42 billion debt is owed to India's Exim Bank. 

As of the end of 2025's second quarter, MVR 9.2 billion is owed to India's Exim Bank. 

The next highest amount is due for bonds sold to foreign parties. Statistics show that MVR 7.7 is owed in this regard. 

The third highest amount is owed to China's Exim Bank, with the amount rising to MVR 7.3 billion by the end of the second quarter.