Maldives must pay India US$50 million next month: Finance Minister
27 Jan 2013, 5:51 PM
Additional reporting by Luke Powell
The Maldives government has to pay US$50 million to State Bank of India (SBI) next month, Finance Minister Abdulla Jihad has stated.
In December 2012 the Maldives government paid US$50 million to SBI, who refused to extend the period of the treasury bonds issued by the bank during the previous government, local media reported.
Speaking to local newspaper Haveeru, Jihad said the government is yet to come to an arrangement to pay the next US$50 million installment to SBI, explaining that the money will have to come from the Maldives Monetary Authority (MMA).
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