Maldives sitting on a debt pile, but not bankrupt yet
10 months ago

Maldives sitting on a debt pile, but not bankrupt yet

Hindustan Times  

New Delhi: Even though Maldives has not gone bankrupt as media reports would have us believe, Male is heavily leveraged with external debt mounting to nearly USD 4.038 billion and the internal debt nearly matching the figure with debt crisis looming ahead in 2026. Maldives President is playing the China card with India hoping that Emperor Xi will give Male aid to tide over economic crisis While Muizzu with his overt anti-India stance is asking for debt relief from his close friend Xi Jinping and Islamic emirates in the Middle-East, the Chinese debt of USD 1.3 billion constitutes nearly 30 per cent of its external debt with sovereign bonds maturing in 2026. Defence Minister Rajnath Singh will commission the first squadron of MH-60 R Sikorsky helicopters in Kochi on March 4-5 and then head towards Maldives on board India’s two aircraft carrier strike forces to Minicoy to commission a new base called INS Jatayu. Even though Muizzu’s anti-India political posturing is aimed at the Majlis elections in April, the public mood towards China’s Belt Road Initiative for infra development in Maldives is at best lukewarm.

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History of this topic

The Maldives is cosying up to China
7 months, 3 weeks ago

The Maldives is cosying up to China

Hindustan Times  

THE MALDIVES tends to evoke images of cocktails enjoyed on pristine white beaches framed by gently swaying palm trees. Yet they were to the fore this week as the People’s National Congress, the party of President Mohamed Muizzu, won a landslide victory in parliamentary elections, claiming over two-thirds of the seats. He has sought to make good on an election …

How did China strengthen its bond with Maldives amid India exit? 10 key collaborations between Male, Beijing
8 months, 3 weeks ago

How did China strengthen its bond with Maldives amid India exit? 10 key collaborations between Male, Beijing

Live Mint  

From providing military assistance to helping build infrastructure, China has been actively boosting its ties with the Maldives — which is seemingly trying to drift away from what many call India's "influence". As part of the deal, China would provide Maldives with free military assistance to foster "stronger" bilateral ties. China sends 1,500 tonnes of drinking water to Maldives Maldivian …

Maldives remains at 'high risk' of external, overall debt distress: IMF
10 months, 2 weeks ago

Maldives remains at 'high risk' of external, overall debt distress: IMF

India TV News  

Male: The International Monetary Fund has said that the Maldives, currently led by President Mohamed Muizzu, remains at a high risk of external and overall debt distress amid rising fiscal deficits and public debt. "Without significant policy changes, the overall fiscal deficits and public debt are projected to stay elevated, and the Maldives remains at high risk of external and …

Choppy waters: On India-Maldives ties
11 months ago

Choppy waters: On India-Maldives ties

The Hindu  

Within weeks of the India-Maldives showdown over derogatory remarks by Maldivian Ministers and the call for Indian tourists to boycott the archipelago, as well as the tussle over Indian troops stationed in Maldives, Delhi and Male are dealing with another controversy. After objecting to visits by Chinese “research” vessels to Sri Lanka, New Delhi managed to ensure that Colombo banned, …

Navy to monitor Chinese ship in Indian Ocean headed to Maldives
11 months ago

Navy to monitor Chinese ship in Indian Ocean headed to Maldives

Hindustan Times  

The Indian Navy will monitor Chinese surveillance ship Xiang Yang Hong 3 in the Indian Ocean region to ensure that it does not carry out any exploration activity in the Maldivian Exclusive Economic Zone. In its statement, Male said, "Concerning the media reports regarding the port call of the Chinese research vessel Xiang Yang Hong 3 at Male, the Ministry …

Vantage | What a Chinese 'spy' ship in Maldives waters means for India
11 months ago

Vantage | What a Chinese 'spy' ship in Maldives waters means for India

Firstpost  

In a surprising turn of events, the Maldives finds itself at the centre of rising diplomatic tensions as it hosts the Chinese research vessel, Xiang Yang Hong 03. While the Maldivian government insists that the vessel’s purpose is merely a port call for personnel rotation and replenishment, concerns linger about the timing of this visit, especially given recent hostilities with …

China agrees to consider restructuring repayment of loans, says Maldives President Muizzu
11 months, 1 week ago

China agrees to consider restructuring repayment of loans, says Maldives President Muizzu

Firstpost  

Maldives President Mohamed Muizzu said on Saturday that China, the largest external creditor to the country, has agreed to consider restructuring the repayment of loans taken by his country and the governments will initiate negotiations soon. Muizzu told the media in Male after his return from a five-day high-profile state visit to China that he has directly appealed to Chinese …

Chinese debt casts shadow over Maldives’ economy
4 years, 3 months ago

Chinese debt casts shadow over Maldives’ economy

Live Mint  

Chinese debt trap has cast a shadow over Maldivian economy with some estimates suggesting that island nation maybe owing huge amount to Beijing. As per the report, Yameen's tenure was also marked by allegations of human rights abuses with many politicians including former President Mohamed Nasheed, who is now Speaker, getting detained. However, former Maldivian officials and Chinese representatives put …

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