Minister of Finance Ibrahim Ameer has expressed confidence a large amount of foreign debt can be paid off next year.
In an exclusive interview to PSM News, Finance Minister Ameer revealed efforts are underway to arrange ways the debt are completely paid off, adding a manageable amount of debt can be paid off next year. Even though the minister said several ways have been identified to pay off the debt, he did not reveal any further details.
Noting USD 258.8 million have been allocated as interest payment and principal payments in the state budget, the minister highlighted the government has identified other means to pay existing debt as well. Furthermore, the finance minister said discussions with foreign countries have also paved ways to pay off the debt.
The finance minister, along with Minister of Foreign Affairs Abdulla Shahid and Minister of Economic Development Fayyaz Ismail has travelled to India, UAE and Japan to hold discussions with the respective governments.