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Bond Market News
Maldives Secures $8.8bn Investment from Qatar
May 8, 2025
The Maldives has secured an $8.8bn investment from Qatar to establish a financial free zone in Malé, marking a significant step in the nation’s economic transformation. This initiative, led by Qatari firm MBS Global Investments, aims to develop the Maldives International Financial Centre (MIFC), positioning the country as a strategic financial and infrastructure hub. The Maldives has faced severe economic challenges in the past, where forex reserves dropped to $440mn in mid-2024, covering only six weeks of imports. This has since, raised concerns about its ability to meet debt obligations. In response, India had provided financial assistance, including a $750mn currency swap agreement and other support measures. The latest collaboration with Qatar represents a strategic move to diversify the Maldives’ economic partnerships and reduce dependence on traditional aid sources.
Maldives’ 9.875% 2026s rallied ~10 points following the update, but have corrected slightly today to trade at 83.8 cents on the dollar.
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