Treasury bills (T-bills) worth MVR one billion have been put up for sale to cover government expenditure.
The Finance Ministry publicizes information on the sale of T-bills every week. As per the ministry's most recent data, a T-bill worth MVR 454 million with a 28-day repayment and a T-bill worth MVR 330 million with a 98-day repayment are now up for sale. In addition, a T-bill of MVR 145 million with a repayment period of 182 days and a T-bill worth MVR 230 million with a repayment period of 364 days are also up for sale.
The total value of the T-bills amounts to MVR 1.1 billion.
The interest rate on the T-bills ranges from 3.50 percent to 4.60 percent. The current interest rates on T-bills in the Maldives are 3.50 percent for one month. A three-month T-bill is selling at 3.87 percent, while a six-month T-bill is selling at 4.23 percent. One-year T-bills are selling at 4.6 percent.
The T-bills sold by the government are bought by the Pension Fund, some banks, and some government-owned companies. Some private companies also buy T-bills.
Finance Minister Ibrahim Ameer
