The Maldives settled its USD 500 million sukuk on schedule in April 2026, closing out an obligation that global markets had spent two years treating as a potential first sovereign sukuk default.
Gross reserves, which had risen to about USD 1.3 billion in March, fell to roughly USD 718 million after the settlement and a USD 400 million currency-swap repayment.
The World Bank continues to classify the country at high risk of debt distress, with about USD 1.0 billion of external service still due this year.