Maldives’ public debt totaled MVR 86.3 billion at the end of March 2021, the finance ministry said.
The total debt included MVR 44.4 billion in domestic debt and MVR 41.8 billion in external debt.
According to figures from the finance ministry, the debt was equivalent to 130 percent of the GDP, down from 149 percent at the end of 2020.
Furthermore, total public and publicly guaranteed external debt was 63 percent of GDP, whereas total public and publicly guaranteed domestic debt was 67 percent of GDP.
By the end of March, the Maldives’ GDP had risen to MVR 66.3 billion, up from MVR 57.9 billion at the end of the previous year.
In a news conference last week, Finance Minister Ibrahim Ameer stated that the Maldivian economy is gradually returning to pre-pandemic levels, but that it remains vulnerable. He also stated that the economy is functioning better than expected, with growth this year expected to range from 13.5 percent to 34.1 percent.