Finance Ministry to hire analysts to assist in managing country's debt

The Finance Ministry is seeking to hire two debt analysts to assist in managing the country's debt.

As per an announcement issued by the ministry, applications for the two positions are due by 23rd of this month.

The Finance Ministry is recruiting debt analysts at a time when international financial institutions have expressed concern on the Maldives' debt status. The total debt of the country has now crossed MVR 100 billion. The Maldives' external debt stood at MVR 31.5 billion at the end of last year. The debt includes loans taken out and bonds sold by the government exclusively to the international market. External debt stood at MVR 25 billion at the end of 2020.

The government has announced a debt management policy to address the problem.

According to the debt vision, the government's direct debt as a percentage of GDP will be reduced to 105 percent by the end of 2023. In addition, the primary budget deficit will be reduced to five percent of GDP by end 2023 and the budget deficit and public debt will be kept in the middle range.