Gov’t Initiates Sale of MVR 3 Billion in T-Bills

The Finance Ministry has initiated the sale of Treasury Bills (T-Bills) totalling MVR 3.1 billion to address government expenditure requirements.

This offering encompasses T-Bills valued at MVR 1.7 billion, with a maturity period of 28 days, and T-Bills amounting to MVR 230 million, set to mature in 98 days. Additionally, T-Bills worth MVR 200 million, maturing in 182 days, and T-Bills worth MVR 980 million, with a maturity period of 364 days, are also on offer. The interest rates on these T-Bills range between 3.50% and 4.60%.

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In September, the Finance Ministry conducted a similar issuance of T-Bills worth MVR 2.6 billion to fulfil government financial obligations.

Notably, the government’s T-Bill offerings attract interest from various stakeholders, including pension funds, select banks, state-owned enterprises, and private companies.

T-Bills represent short-term government securities within the realm of government securities. Those issued by the Government of Maldives are made available at a discounted price in the local currency (Rufiyaa) and are redeemed at their face value upon maturity.

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