Maldives Debt Clock
Welcome to Maldives Public Debt Clock. This is a citizen-led resource.
What is the public debt today?
Rf. 126,184,000,000
That's
Rf. 243,612
for every single Maldivian!
How does this impact you?
On an average salary, it's going to take 4 generations* of your family to pay it off 😢
- You: Rf. 72,000
- Your children: Rf. 72,000
- Your grand children: Rf. 72,000
- Your great grand children: Rf. 25,113
* Based on the Maldives average salary (Rf. 5,538) from 2019 HIES, 2022 Census population, and with a monthly contribution of Rf. 200, and a generational contribution period of 30 years.
Debt over time
The rapid growth in debt compared to GDP means higher debt servicing costs and strained government finances. We are borrowing much more than our economy is growing.
Explain this if I was a primary schooler or a university grad.
Debt as a percentage of GDP
Shows a clear upward trend in the debt-to-GDP ratio over this period. Of course, COVID had a big impact. Maldives' debt service to revenue is at 20.5%, which is very high.
What's the debt comprised of?
External debt is what we owe to foreign lenders. These payments have to be made in foreign currency, meaning Maldives has to get foreign currency to pay interest and maturity amounts. Domestic debt is borrowings from local entities like banks, private lenders.