Gov’t Issues MVR 2.9 Billion in T-Bills to Meet Expenditure Needs

The Maldivian government has initiated the sale of Treasury bills (T-bills) valued at MVR 2.9 billion to address fiscal requirements.

The T-bills offered by the finance ministry consist of MVR 1.8 billion set for repayment in 27 days and MVR 165 million with a 103-day repayment period. Additionally, MVR 119 million in T-bills with a maturity of 181 days and MVR 829.9 million with a 363-day repayment period have been made available.

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Interest rates on the T-bills range from 3.50% to 4.60%.

The government procures T-bills from various sources, including the pension fund, selected banks, and government-owned enterprises. Private companies also participate in purchasing T-bills.

T-bills, short-term government securities, are sold at a discounted price in Maldivian Rufiyaa, with the face value paid upon expiration. This issuance aims to meet the government’s financial obligations efficiently.

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