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The Government plans to borrow up to US$1 billion from international investors. This money will be used for general development projects and to repay previous loans.

The money is being raised through the international capital market, which is where governments and companies sell debt (bonds or notes) to large investors around the world.

Under the External Loans (Tax and Exchange Control Exemption) Order, 2026, signed by Minister of Finance Davendranath Tancoo on Monday, payments of principal, interest, and other debt charges on the Notes will be exempt from all taxes and exchange control.