Table 6.5 Public and Publicly Guaranteed Debt of Central Government, 2020 - 2025 1/
(Millions of MVR)
Period Total outstanding In % of GDP 2/
Domestic External Total outstanding Domestic debt Central government domestic debt Guaranteed domestic debt External debt Central government external debt Guaranteed external debt
Central government Guaranteed Central government Guaranteed
( 2 + 5 ) (3 + 4) (6 + 7)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14)
2020
86,759.9
42,712.5
41,842.7
869.8
44,047.4
24,968.9
19,078.5
151.9
74.8
73.3
1.5
77.1
43.7
33.4
2021
94,452.0
49,082.7
48,453.9
628.8
45,369.3
31,823.5
13,545.8
117.0
60.8
60.0
0.8
56.2
39.4
16.8
2022
107,218.1
59,242.9
58,644.3
598.6
47,975.2
33,099.0
14,876.2
112.8
62.3
61.7
0.6
50.5
34.8
15.7
2023
125,954.2
73,702.2
72,775.1
927.1
52,252.0
38,105.3
14,146.7
123.6
72.3
71.4
0.9
51.3
37.4
13.9
2024
144,931.5
82,603.1
81,620.3
982.8
62,328.4
42,261.2
20,067.2
133.4
76.0
75.1
0.9
57.4
38.9
18.5
2020 Dec-20 Q4
86,759.9
42,712.5
41,842.7
869.8
44,047.4
24,968.9
19,078.5
151.9
74.8
73.3
1.5
77.1
43.7
33.4
2021 Mar-21 Q1
90,287.3
44,679.8
43,907.1
772.7
45,607.5
24,516.9
21,090.6
111.8
55.3
54.4
1.0
56.5
30.4
26.1
Jun-21 Q2
89,588.1
45,743.9
44,964.6
779.3
43,844.2
26,612.4
17,231.8
111.0
56.7
55.7
1.0
54.3
33.0
21.3
Sep-21 Q3
95,292.5
47,899.6
47,171.3
728.3
47,392.9
30,312.4
17,080.5
118.0
59.3
58.4
0.9
58.7
37.5
21.2
Dec-21 Q4
94,452.0
49,082.7
48,453.9
628.8
45,369.3
31,823.5
13,545.8
117.0
60.8
60.0
0.8
56.2
39.4
16.8
2022 Mar-22 Q1
98,534.3
52,494.3
51,927.3
567.0
46,040.0
33,164.9
12,875.1
103.7
55.2
54.6
0.6
48.4
34.9
13.5
Jun-22 Q2
100,422.6
54,595.5
54,201.1
394.4
45,827.1
32,323.9
13,503.2
105.7
57.4
57.0
0.4
48.2
34.0
14.2
Sep-22 Q3
101,302.1
56,473.5
55,676.3
797.2
44,828.6
31,911.1
12,917.5
106.6
59.4
58.6
0.8
47.2
33.6
13.6
Dec-22 Q4
107,218.1
59,242.9
58,644.3
598.6
47,975.2
33,099.0
14,876.2
112.8
62.3
61.7
0.6
50.5
34.8
15.7
2023 Mar-23 Q1
112,125.9
64,605.6
64,193.7
411.9
47,520.3
33,250.9
14,269.4
110.1
63.4
63.0
0.4
46.6
32.6
14.0
Jun-23 Q2
117,295.7
67,312.1
67,035.9
276.2
49,983.6
34,063.3
15,920.3
115.1
66.1
65.8
0.3
49.1
33.4
15.6
Sep-23 Q3
120,262.8
68,485.6
67,712.9
772.7
51,777.2
36,520.3
15,256.9
118.0
67.2
66.5
0.8
50.8
35.8
15.0
Dec-23 Q4
125,954.2
73,702.2
72,775.1
927.1
52,252.0
38,105.3
14,146.7
123.6
72.3
71.4
0.9
51.3
37.4
13.9
2024 Mar-24 Q1
127,048.1
75,030.2
74,104.8
925.4
52,017.9
38,447.9
13,570.0
116.9
69.0
68.2
0.9
47.9
35.4
12.5
Jun-24 Q2
130,642.5
77,322.7
76,462.8
859.9
53,319.8
39,889.8
13,430.0
120.2
71.2
70.4
0.8
49.1
36.7
12.4
Sep-24 Q3
135,056.7
80,288.1
79,251.1
1,037.0
54,768.6
40,915.3
13,853.3
124.3
73.9
72.9
1.0
50.4
37.7
12.7
Dec-24 Q4
144,931.5
82,603.1
81,620.3
982.8
62,328.4
42,261.2
20,067.2
133.4
76.0
75.1
0.9
57.4
38.9
18.5
2025 Mar-25 Q1
146,778.4
84,913.0
84,018.0
895.0
61,865.4
41,372.3
20,493.1
126.1
73.0
72.2
0.8
53.2
35.6
17.6
Jun-25 Q2
149,049.2
86,628.6
85,834.2
794.4
62,420.6
42,090.9
20,329.7
128.1
74.4
73.8
0.7
53.6
36.2
17.5
Sep-25 Q3
151,098.9
88,003.2
87,364.8
638.4
63,095.7
42,861.0
20,234.7
129.9
75.6
75.1
0.5
54.2
36.8
17.4
Source: Ministry of Finance and Planning, Maldives Bureau of Statistics
1/Figures from Q4 2022 to Q2 2025 have been revised as per the 'Quarterly Debt Bulletin 2025 Q3' published by th Ministry of Finance and Planning.
2/Debt as a percentage of GDP has been calculated using Nominal GDP for the year. Figures for debt as a % of GDP have been revised as per the annual GDP published by the Maldives Bureau of Statistics on 18 September 2025. Figures for 2025 have been calculated using revised GDP estimates avaialable as of 29 October 2025, forecasted by the Maldives Monetary Authority and the Ministry of Finance and Planning.