Maldives Monetary Authority has received the $250 million bonds sold to the Indian government. The bonds were sold with the Maldivian government providing sovereign guarantee in paying back the $250 million and its interests.
At this point no government or Indian authority has provided any details on the $250 million loan. An inquiry requesting details of this loan was submitted to the Finance Ministry by local “Dhiyares News”. But the request was denied by the finance ministry citing “irrevocable damage to the relations between India and Maldives. However, Finance Minister Ibrahim Ameer stated that the interest rates were considerably low given the current financial situation.