Maldives seeks assistance from India, faced with mounting debt

The Maldives is looking to India for help by providing monetary and budgetary assistance to overcome their mounting debt, some of which are results of dubious loan agreements.

Maldives foreign minister Abdulla Shahid said in a TOI report that Male was still trying to examine the implications of the debt accumulated by the previous government, suggesting that the figures provided by the government officials did not match the Chinese estimates. The Maldives is said to owe close to 70% 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.  Read more

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