India has formally extended the repayment deadline for a USD 50 million Treasury bill held by the Maldives, a move described by the Maldivian Ministry of Finance and Planning as a reaffirmation of New Delhi’s enduring confidence in the country’s fiscal trajectory. The announcement followed a high-level meeting convened to assess and advance bilateral economic cooperation.
Held in Malé, the meeting brought together Maldivian Minister of Finance and Development Planning Moosa Zameer and Indian High Commissioner G. Balasubramanian. They were joined by senior officials, including Suja K. Menon, Joint Secretary at India’s Ministry of External Affairs, and representatives from both governments.
Central to the discussions was the Treasury bill subscribed by the State Bank of India, originally scheduled for repayment on 18 September. The extension, according to the Finance Ministry, reflects India’s “continued confidence and assistance” and underscores the depth of financial collaboration between the two nations.
Attention also turned to development projects financed under India’s Lines of Credit. Delegates reviewed implementation challenges and committed to accelerating progress on initiatives intended to deliver tangible benefits to the Maldivian public, the Finance Ministry said.
Trade relations featured prominently in the dialogue, with both sides expressing a shared interest in expanding commercial ties and increasing the volume of bilateral transactions. The shared objective, officials noted, is to identify new avenues for economic collaboration that align with national priorities.
This latest engagement builds on a series of diplomatic overtures aimed at strengthening the economic partnership. It follows a state visit to the Maldives by Indian Prime Minister Narendra Modi, during which negotiations were held on a prospective free trade agreement and several financial accords were signed.