Minister of Finance and Public Enterprises Hassan Zareer has said arrangements are in place to ensure there will be no interruption to the availability of food, fuel and medicines.
The minister made the remarks in response to allegations that foreign currency had run out due to the government having to use funds to finance debt obligations.
In a post shared on social media regarding the matter, Minister Zareer said that, under the leadership of President Dr Mohamed Muizzu, the government is repaying its debts responsibly and in a planned manner. He said funds are being deposited into the Sovereign Development Fund in accordance with regulations established for debt repayments.
The minister also said that funds are available to import food, essential food items and medicines.
As part of the government’s efforts to repay its debts, payments have also been made to settle Treasury bills taken by the previous administration from the State Bank of India (SBI).
The government paid USD 50 million, which was the final instalment of Treasury bills issued in 2019 by the previous administration after being divided into three tranches.