The State Bank of India (SBI) had lent billions of rufiyaa to the government of former President Ibrahim Mohamed Solih, which the MDP administration had promised a portion of which would be converted to free aid.
In 2019, the previous government borrowed $150 million by selling T-bills. That’s about 2.3 billion MVR. From the total, $50 billion has been paid by the current government, which equates to roughly 700 million MVR. READ MORE FROM THE MALDIVES JOURNAL
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