CosmicTaco

Maldives President Seeks India's Support Amid Debt Crisis

CosmicTaco · 2024-10-06T21:34:41.512501+05:30

- Maldives President Mohamed Muizzu is in India for a four-day state visit, seeking support for his country's looming debt crisis. - He is expected to request a currency swap arrangement and debt support from Prime Minister Narendra Modi. - India has already subscribed to Maldivian government bonds worth $50 million through the State Bank of India. - The Maldives is due to make a $25 million payment towards its $500 million 'Sukuk' (Islamic bonds) debt, with a total of $1.5 billion due in the next two years. - The visit marks a turnaround in relations between the two countries, following tensions last year over Muizzu's 'India Out' campaign. Source: [The Hindu](https://www.thehindu.com/news/national/maldives-president-mohamed-muizzu-in-new-delhi-for-first-bilateral-visit/article68724899.ece)

Maldives President Mohamed Muizzu is in India for a four-day state visit, seeking support for his country's looming debt crisis.
He is expected to request a currency swap arrangement and debt support from Prime Minister Narendra Modi.
India has already subscribed to Maldivian government bonds worth $50 million through the State Bank of India.
The Maldives is due to make a $25 million payment towards its $500 million 'Sukuk' (Islamic bonds) debt, with a total of $1.5 billion due in the next two years.
The visit marks a turnaround in relations between the two countries, following tensions last year over Muizzu's 'India Out' campaign.

Source: The Hindu