The Maldives’ Sovereign Development Fund (SDF) has dropped even further, reducing the amount of money that is available for use.
The Ministry of Finance recently publicised statistics that show that just MVR 98.7 million is now held in SDF.
It is noteworthy that the sum has decreased noticeably after reaching a billion in October. As the money was invested in numerous ways, the amount reduced. According to the data, MVR 1.2 billion was ready for immediate use at the start of this year.
By 2026, the government wants to increase the fund by USD 600 million.
The Maldives Monetary Authority (MMA) has warned that repaying loans would be extremely difficult if the investments financed with SDF did not mature by 2026.
During its tenure under former President Abdulla Yameen Abdul Gayoom, the government established the Sovereign Development Fund (SDF). It was developed to be utilized in situations where it becomes challenging to repay the debt from loans taken for significant infrastructure projects or when overcoming economic crises.
SDF funds are maintained with MMA and managed separately from those in the authority’s reserve.
