The Ministry of Finance and Public Enterprises has reported that the Sovereign Development Fund (SDF) has received USD 64.85 million in deposits so far this year.
The Ministry in its latest Weekly Fiscal Development Report said that from 1 January to 4 June, the SDF deposits marks a 10 percent increase over the USD 60.57 million recorded in the same period last year.
The increase coincides with a surge in debt‑repayment outlays. The government has spent USD 564.5 million on loan repayments so far this year—a 178 percent rise from the USD 201 million repaid in the same window of 2025.
In addition to the increased deposit volume, the government used the SDF to repay a USD 500 million sukuk bond this year, underscoring its role as a dedicated vehicle for servicing large‑scale debt taken for emergencies and development projects.
The SDF, established in 2016, is distinct from the Maldives Monetary Authority’s (MMA) foreign‑exchange reserves. Its purpose is to accumulate resources to repay sizable sovereign loans and to cushion the economy against external shocks.
Funding for the SDF comes from three principal sources including the airport development fees levied on departures at Velana International Airport, dividends paid by Maldives Airports Company Limited (MACL), and fees for select airport services.