Finance Minister Ibrahim Ameer has stated that government of Maldives has successfully secured USD 520 million as COVID-19 financing. The government has received these funds through various different originations.
The announcement was made via his twitter account and also touched upon the financing while speaking at the parliament today.
It has been reported that the government has lost a huge losses in revenue. The budget deficit may be higher than the approved amount, financial requirements are consequently increasing and to the requirements. The Ministry highlighted that 11 donors have provided USD 520 million (around MVR 8 billion) in loans and grants. This showed which Indian government had provided in the biggest loan by offering financial assistance of USD 250 million by investing via State Bank of India (Male’) in the government domestic treasury bonds as budget support.