Around MVR 80 billion worth of Treasury Bills (T-bills) and Treasury Bonds (T-bonds) have been issued by the government, it has been revealed.

According to the Ministry of Finance data, MVR 32.6 billion worth, in Maldivian Rufiyaa alone, is due to be repaid on T-bills issued by the government.

As the T-bills mature, the administration will be expected to pay out the face value of the T-bills based on the maturity period. As it stands, the maruity period and the amount to be repaid for the T-bills are as follows;

Maturity PeriodAmount in MVR
One month6 billion
Three months3 billion
Six months5.7 billion
One year24.8 billion
Within one to two years700 million
Within three and five years12.1 billion
Within five and seven years2.1 billion
Within seven and 10 years6.5 billion
Within 10 years or more19 billion

T-bills are issued by the Ministry of Finance to raise money to meet the state’s cash flow requirements and are usually sold to the pension fund, banks, some state-owned enterprises (SOE)s, and private companies, with interest rates on the bills ranging from 3.50 percent to 4.60 percent.

T-bills are short-term debt instruments issued by the government to raise funds and are issued at a discount, where the buyer receives the face value of the issue upon maturity.