MVR 1.5 Billion Worth of T-Bonds Sold to India

Photo: PSM News

MVR1.5 billion worth T-bonds have been sold to India, as per Minister of Finance, Honorable Ibrahim Ameer.

Honorable Ameer explained that the money acquired from selling T-bonds were for budget support and will be used for several projects.

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The Minister further stated that there are MVR2.4 billion worth projects in the National Tender Process.

Out of the financial aid granted by India to Maldives, USD150 million is to be given via T-bonds.

T-bonds are money collected from a foreign country to be paid back in a short period of time.

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