Government sells t-bills worth MVR 1.2 billion to offset state expenditure

Finance Minister of Maldives, Ibrahim Ameer speaking at the inauguration ceremony of the procurement guidelines and job classification framework for State-owned enterprises. | Photo: Finance Ministry

Malé, Maldives – The Government of Maldives on Thursday announced the sale of treasury bills valued at MVR 1.21 billion to be settled by 1 August 2022.

The Government invited subscriptions for the MVR Treasury Bills as listed,

At present, the state has MVR 62.5 billion in unpaid t-bills with MVR 2.3 billion due in 1 month, MVR 3.1 billion in three months, MVR 3.4 in six months and MVR 23.8 in one year.

Treasury bills (T-bills) are issued in accordance with the Prospectus for Treasury Bills Tap and the Prospectus for Treasury Bills Auction. At present, they are offered for 1 month, 3 month, 6 month and 1 year tenures and are sold at a discount, where each T-bill carries a face value of MVR 10,000 and all subscriptions for T-bills are in minimum and multiples of 10 T-bills.