Digital Scoop India Official Platform of Digital Scoop India Featuring Latest & Best News #Articles #Bytes #Entertainment #DigitalScoopMagazine
Related Articles
Maldives President Mohamed Muizzu has expressed gratitude to India and China for their support in easing the country’s debt repayment burden, enabling the Maldives to assert greater economic sovereignty. Addressing the official Independence Day function in the Maldives on Friday, Muizzu praised his administration’s foreign policy and highlighted eight months of “diplomatic success.”
During his speech, Muizzu thanked India and China for their crucial role in alleviating the Maldives’ debt crisis, which has allowed the nation to pursue greater economic independence. He emphasized the importance of addressing local shortages of US dollars and revealed ongoing negotiations for currency swap agreements with both New Delhi and Beijing.
The President also announced that his government is in discussions with the United Kingdom to establish a Free Trade Agreement (FTA) and expressed hope for a similar agreement with India. This marks a shift from earlier tensions between the Maldives and India, particularly after Muizzu’s “India Out” campaign and subsequent actions, including the removal of Indian troops from the country.
In a notable departure from convention, Muizzu did not make his first official visit to India but instead traveled to Turkey and China, where he signed approximately 20 agreements and elevated ties to a comprehensive strategic cooperative partnership. Earlier this year, the Maldives did not renew a Hydrographic Survey agreement with India, and Indian troops were withdrawn as per a high-level discussion initiated by the Maldivian government.
Tensions between the two nations also escalated after derogatory comments made by three Maldivian deputy ministers about Indian Prime Minister Narendra Modi, which led to a diplomatic dispute and a suspension of the officials involved. The Maldives has seen a significant drop in Indian tourists, with a 33% decrease compared to the previous year, according to tourism data.
As the Maldives seeks to strengthen its economic and diplomatic relations, President Muizzu’s administration continues to navigate a complex relationship with India, balancing new alliances with historical ties.
Sources By Agencies
