Gov’t Raises MVR 2.87B in T-Bills to Tackle Short-Term Financing Needs
Ministry of Finance and Planning | Photo: MV+
The Ministry of Finance and Planning has announced the sale of MVR 2.87 billion in Treasury Bills (T-Bills) under Series TB-2025-006, as part of its ongoing efforts to meet short-term financing needs. All bids submitted for the issuance, dated 7 April 2025, were accepted in full, reflecting strong market interest in government debt instruments.
The T-Bills were issued across four tenures ranging from 28 days to 364 days, with varying yields offered to investors. The largest share—amounting to MVR 1.37 billion—was raised through a 364-day bill maturing on 6 April 2026, offered at an interest rate of 4.60 percent. This was followed by the 28-day maturity which brought in MVR 995 million at a 3.50 percent yield.
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The government also secured MVR 360.5 million from the 182-day instrument at a rate of 4.23 percent and MVR 150 million from the 98-day bill at 3.87 percent. In total, 17 bids were received and all were fully awarded, with no rejections reported.
T-Bill Tenure Maturity Date Amount Raised (MVR) Interest Rate 28 days 5 May 2025 995,000,000 3.50% 98 days 14 July 2025 150,030,000 3.87% 182 days 6 October 2025 360,500,000 4.23% 364 days 6 April 2026 1,365,880,000 4.60% Total 2,871,410,000
This issuance comes at a time when the government continues to rely on domestic borrowing to manage liquidity and bridge short-term fiscal gaps. While the successful auction signals sustained investor confidence, the growing reliance on short-term debt instruments also reflects persistent financing pressures within the public sector.
T-Bills are typically purchased by commercial banks and other financial institutions and play a critical role in supporting the state’s cash flow management. The issuance is part of the Ministry’s routine domestic debt operations.
