The government has introduced Treasury bills (T-bills) amounting to MVR 2.8 billion to fulfil its financial obligations. The Finance Ministry has outlined the details of this initiative, presenting T-bills with varying repayment periods and values.
Specifically, the offering includes an MVR 1.8 billion T-bill set to mature in 29 days, alongside an MVR 230 million T-bill with a 97-day repayment period. Additionally, T-bills worth MVR 80 million, maturing in 182 days, and MVR 686 million, with a 364-day repayment window, have been made available.
Investors considering these T-bills can assess interest rates ranging from 3.50 to 4.60 per cent, providing a spectrum of options based on their preferences.
T-bills, recognised as short-term financial instruments, are issued in the local currency at discounted rates by the Maldives government. The face value of these bills is repayable after the stipulated repayment period. The entities purchasing these T-bills typically include the Pension Fund, select banks, government-owned enterprises, and, on occasion, private companies.