Maldives-China Relations : The condition of Maldives, which messed with India at the behest of China, is now worsening. Maldives has now approached China to handle its falling economy. Maldives President Mohammad Muizzu has now sent his Foreign Minister Musa Zameer to Beijing on a 5-day visit to increase friendship with China. On Monday, Musa Zameer also met his Chinese counterpart Wang Yi. According to the Maldives Foreign Ministry, Musa Zameer has requested China for help to handle the debt-ridden country’s economy. The press release said that during the meeting with Wang, Zameer gave information about the economic and fiscal situation of Maldives. He requested China for help in implementing the fiscal reform program. Musa Zameer said, implementation of the reform program will increase the confidence of consumers and investors in the country’s economy.
The IMF had warned
At present, the economy of Maldives is in crisis. The whole country is dependent on tourism. When PM Modi went to Lakshadweep, the number of Indians in Maldives declined further. In May this year, the International Monetary Fund (IMF) also issued a warning about Maldives. IMF had said in its report that if Maldives does not make policy changes, it may face a big danger.
Maldives owes China $1.3 billion
Maldives currently has a debt of more than $1.3 billion to China, which is 20 percent of its total debt. At the same time, the country’s fiscal deficit is also increasing continuously. To overcome this, Maldives is now turning to China. Earlier in May, Chinese ambassador Wang Lixin had said that talks are going on between the two countries to provide relief to Maldives from China. However, it was clarified that there is no plan to restructure the debt. Wang had said that China is also worried about Maldives’ increasing debt.
