Ref: 2024/PR/303
The Government of India has granted a one-year extension to the USD 50 million Treasury Bill, which matured on 19 September 2024, through the State Bank of India, Malé. This is the second rollover granted by the Indian Government this year, following the first rollover of a USD 50 million Treasury Bill on 13 May 2024.
Government of India’s decision to grant this extension came following a request to that effect made by Foreign Minister Moosa Zameer during the discussions held between the two Governments at the recent visit of the Minister of External Affairs of India Dr. S. Jaishankar to the Maldives from 9-11 August 2024.
The Government of Maldives is highly appreciative of the generous support that the Government of India has been providing to the Maldives in the form of budgetary support. This extension comes at a pivotal moment as the Government of Maldives is implementing a strong fiscal consolidation program to address the pressing economic challenges.
The Government of India has once again demonstrated the high value it places on this enduring partnership. The Government of Maldives looks forward to continuing this collaborative partnership for the mutual benefit and prosperity of the people of both nations.
ENDS