Faced with mounting foreign debt, some of which may have resulted from dubious loan agreements, the Maldives is looking at India for more budgetary support to help Male meet its development goals:
Ahead of his meeting with Indian leaders on Monday, Maldives foreign minister Abdulla Shahid told TOI that Male was still trying to study the implications of the debt accumulated by the previous Abdulla Yameen government as figures provided by government officials on foreign debt did not necessarily “tally with the Chinese estimates”.
The Maldives is said to owe close to 70 per cent of its external debt to China.
“We hope that India will be generous enough to help us with the initial management of any shortfall we might face. We know that the…
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