Male/New Delhi: Amid reports that India has stopped funds to Maldives over unilateral decision to terminate GMR contract, Maldivian government today said it has so far not asked for further release of funds under standby credit facility of USD 100 million extended by New Delhi.
"We have not asked for further release of funds under the standby credit facility so far," a top official in Maldivian President's office told PTI.
"We had a 50 million dollar bond matured earlier this week and it has been paid up. The SBIBSE 0.16 % did not roll over this bond for another period. It was settled in full," he said.
India had inked an agreement in 2011 under which it extended a Standby Credit Facility (SCF) of USD 100 million to help stabilise Maldivian fiscal position.
07/12/12 PTI/Economic Times
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"We have not asked for further release of funds under the standby credit facility so far," a top official in Maldivian President's office told PTI.
"We had a 50 million dollar bond matured earlier this week and it has been paid up. The SBIBSE 0.16 % did not roll over this bond for another period. It was settled in full," he said.
India had inked an agreement in 2011 under which it extended a Standby Credit Facility (SCF) of USD 100 million to help stabilise Maldivian fiscal position.
07/12/12 PTI/Economic Times
