President Dr Mohamed Muizzu has stated that the Administration remains committed to freeing the Maldivian people from the burden of legacy debt, while pursuing sustainable solutions to ensure stronger and more resilient financial outcomes for the nation.
He noted that the country’s official gross reserves have surpassed USD 1.13 billion, the highest level recorded in Maldivian history.
The President made these remarks this morning whilst delivering the Presidential Address at the first sitting of the first session of the 20th People's Majlis for the year.
He stated that state revenue and grants in 2025 increased by 12 per cent compared to 2024. Based on current economic performance and growth trends, the President projected that total State revenue and grants for 2026 would reach MVR 40.4 billion.
In his address, President Dr Muizzu outlined key strategic measures undertaken by the Administration to address the inherited debt burden, including efforts to restructure sovereign debt, secure more favourable repayment terms, and strengthen confidence among international investors and credit rating agencies.
Highlighting improvements in external earnings, the President said the Maldives generated USD 1.2 billion in foreign currency revenue in 2025. He noted that this growth enabled increased allocations to the Maldives Sovereign Development Fund (SDF) and contributed to the strengthening of official reserves.
He further stated that, following the implementation of new foreign exchange regulations, USD 492 million was exchanged through the Maldives Monetary Authority (MMA) between January and December 2025.
