Maldives Ministry of Finance announces 645 million rufiyaa Treasury bill sale

The Ministry of Finance has announced the sale of four Treasury bills totaling 645 million rufiyaa to manage state expenditures. The auction includes various maturity periods with interest rates ranging from 3.5 percent for 28-day bills to 4.6 percent for 364-day bills.

This follows a previous announcement last month where 1.1 billion rufiyaa was raised through Treasury bills. Currently, the total amount of Treasury bills owed by the government has reached 41.6 billion rufiyaa. This debt includes 3.4 billion rufiyaa due within one month and 32.7 billion rufiyaa due after one year.

Typically, these bills are purchased by pension funds, banks, and state-owned enterprises. According to recent reports, the state recorded an income of 27.9 billion rufiyaa as of the 27th of last month.