MALE, Sept 18: India has extended the repayment deadline for a USD 50 million Maldivian government bond by another year as part of its ongoing financial support to the island nation, the Indian High Commission confirmed Thursday.
The extension came after a formal request from the Maldives government and covers a Treasury Bill (T-bill) initially issued in March 2019. Since then, India’s State Bank of India (SBI) has subscribed to multiple Maldivian T-bills, rolling them over annually on an interest-free basis to provide emergency financial assistance to the Maldives.
The latest move underlines India’s continued economic cooperation with the Maldives amid the island nation’s fiscal challenges and strategic significance in the Indian Ocean region.
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