CosmicTaco

Maldives and India Pledge to Boost Strategic Cooperation

CosmicTaco · 2024-10-07T17:20:53.845254+05:30

- Maldives' President Mohamed Muizzu and Indian PM Narendra Modi held talks, promising to strengthen strategic cooperation. - India approved a $400 million and a 30 billion rupee currency swap agreement to aid Maldives' economic recovery. - India and Maldives will start talks on a free trade agreement, aiming for stability and progress in the Indian Ocean region. - Much of Maldives' debt is owed to China and India, with fears of default following a hit to the tourism industry by COVID-19. - Despite initial tensions, relations between Maldives and India are improving, with India being a key partner in Maldives' development. Source: [Reuters](https://www.reuters.com/world/india/maldives-president-muizzu-meet-indias-modi-amid-economic-woes-2024-10-07/)

Maldives' President Mohamed Muizzu and Indian PM Narendra Modi held talks, promising to strengthen strategic cooperation.
India approved a $400 million and a 30 billion rupee currency swap agreement to aid Maldives' economic recovery.
India and Maldives will start talks on a free trade agreement, aiming for stability and progress in the Indian Ocean region.
Much of Maldives' debt is owed to China and India, with fears of default following a hit to the tourism industry by COVID-19.
Despite initial tensions, relations between Maldives and India are improving, with India being a key partner in Maldives' development.

Source: Reuters