Over MVR 900 mill spent on debt repayment

Over MVR 900 million has been spent by the state on loan repayment.

The weekly finances publicized by the Ministry of Finance reveal that MVR 964.7 million has been repaid thus far this year until the end of last week. A total budget of MVR 2,887,900,000 was allocated for loan repayment for the year.

According to the Central Bank statistics, the state currently owes a debt of MVR 50.9 billion. While MVR 29.7 billion of this amount is internal debt, the external debt is at MVR 21.3 billion.

A total sum of MVR 733.5 million was borrowed by the state in the last six months, the figures show.

Last year's 4th quarter debt bulletin publicized by Finance Ministry shows the state owed a total debt of MVR 18 billion for the period between December 2016 - December 2018.