The Ministry of Finance has issued an invitation to subscribe to MVR-denominated Treasury Bills (T-Bills), offering a total of MVR 1.39 billion in short- and medium-term government securities. The T-Bill sale is scheduled for 29 July 2025, with settlement also set for the same day.
According to the invitation (TB-2025-014), the government is offering four categories of T-Bills, each with a different maturity period and interest rate:
- 28-day maturity: MVR 278.2 million at 3.50%
- 98-day maturity: MVR 306.0 million at 3.87%
- 181-day maturity: MVR 389.4 million at 4.23%
- 364-day maturity: MVR 417.3 million at 4.60%
The offered instruments reflect a range of short-term borrowing options, continuing the government’s ongoing practice of raising funds through domestic debt issuance. The 364-day bill carries the highest interest rate of 4.60%, suggesting continued reliance on longer-term T-Bill instruments to meet fiscal needs.
The Ministry has instructed that all subscriptions must be made using the official subscription form and submitted on the sales date during the designated hours. Payment is required in full on the settlement date, and failure to do so could result in exclusion from future government securities operations.
This issuance comes amid ongoing concerns about public debt levels and liquidity management, as the government looks to finance its expenditure while maintaining market confidence.
