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ஜெனரல்
In 2024, the Maldives is expected to spend 5.1% of its GDP on interest payments for government debt, up from 2.6% in 2021. In 2019, it was only 1.7% which is one-third of the current level.
With increased borrowing to pay interest, public debt has soared to 123.7% by 2023 (up from 77.2% in 2019). The external financing conditions have also worsened with a credit rating downgrade by Fitch in August 2024.
Notes
2024 is a revised estimate.
Sources
Fitch Ratings 'Fitch Downgrades Maldives to CC' 29 August 2024 at https://www.fitchratings.com/research/sovereigns/fitch-downgrades-maldives-to-cc-29-08-2024 [last accessed 26 March 2025].
Website of the Ministry of Maldives 'Monthly Statistics' at https://mma.gov.mv/#/research/statisticalPublications/mstat/Monthly%20Statistics [last accessed 26 March 2025].
Research by: Emaad Rizwan and Anushan Kapilan
