News & press releases

Maldives and France signs agreement on the G-20 Debt Service Suspension Initiative (DSSI)

31 December 2020

The Government of the Republic of Maldives and the Government of France signed an agreement on the G-20 Debt Service Suspension Initiative (DSSI), to temporarily suspend debt-service payments owed to bilateral creditors. The agreement was signed on behalf of the Government of the Republic of Maldives by His Excellency Omar Abdul Razzak, High Commissioner of the Republic of Maldives to the Democratic Socialist Republic of Sri Lanka, and on behalf of the Government of France by His Excellency Eric Lavertu, Ambassador of France to the Republic of Maldives.

The agreement signed today will contribute directly to the Maldives’ ongoing economic recovery efforts, and will improve debt transparency and debt management amidst the present economic challenges. In September this year, a Memorandum of Understanding (MoU) on the Treatment of Debt Services was signed by His Excellency Ibrahim Ameer, Minister of Finance of the Maldives, and the representatives of a number of other creditor countries, including France.

The Signing Ceremony which was held at the Embassy of France in Sri Lanka today was attended by senior officials from the High Commission of Maldives and the Embassy of France.

ENDS