Team Blitz India
India has decided to extend vital budgetary support to the Maldives Government by rolling over a $50-million Treasury Bill for another year. The State Bank of India has subscribed for an additional year to the $50-million Government Treasury Bill issued by the Ministry of Finance of Maldives, as per the High Commission of India.
Despite recent bilateral tensions since Maldives President Mohamed Muizzu, seen as pro-China, took office six months ago, India made this decision as a goodwill gesture. The Government Treasury Bills are subscribed by SBI under a unique Government-to-Government arrangement at zero cost (interest-free).
The Government of India’s decision to rollover T-Bill came following a request to that effect made by Foreign Minister Moosa Zameer to India’s External Affairs Minister S Jaishankar, during the official bilateral visit to India from May 8-10, the Maldivian Foreign Ministry said in a statement.
Zameer tweeted his appreciation, thanking Indian EAM and the Indian Government for the goodwill gesture. “I thank EAM Dr S Jaishankar and the Government of India for extending vital budgetary support to the Maldives with the rollover of USD 50 million Treasury Bill. This is a true gesture of goodwill which signifies the longstanding friendship between Maldives and India,” he posted.
