The government of Maldives has invited subscriptions for treasury bills (T-bills) worth MVR 2.29 billion in order to cover its expenditures.
The announcement was made as follows:
- MVR 975 million in T-bills, repayment within a month
- MVR 410 million in T-bills, repayment within three months
- MVR 130 million in T-bills, repayment within six months
- MVR 777.7 million in T-bills, repayment within one year
T-bill interest rates range from 3.50 percent to 4.60 percent. T-bill interest rates in the Maldives are currently 3.50 percent for one month. Three-month T-bills yield 3.87 percent, six-month T-bills yield 4.23 percent, and one-year T-bills are priced at 4.6 percent.
T-bills are typically purchased by the pension fund, banks, government-owned companies, as well as some private companies. The funds raised from the issuance of government securities are utilised to meet the government’s budget financing requirements.