Maldives repays $150 million loan to India
New Delhi, Sept. 19 -- The Maldives has repaid a loan of $150 million from India by settling the final tranche of treasury bills subscribed by the State Bank of India even as the Indian Ocean archipelago grapples with pressing economic issues.
The final tranche of treasury bills worth $50 million, out of a total of $150 million subscribed by the State Bank of India (SBI), was settled by the Maldives government on September 17, external affairs ministry spokesperson Randhir Jaiswal told a regular media briefing on Friday. The treasury bills were subscribed by SBI in 2019 and had been extended on six occasions, each time for a year.
While the principal amount of the treasury bills was paid by the Maldives government, the interest payment on t...
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