In a surprising shift, Maldivian President Mohamed Muizzu labeled India its “closest ally” and expressed hope for debt relief to address substantial loans owed to New Delhi. Despite prior pro-China inclinations, he emphasized efforts to maintain strong bilateral ties and avoid tensions. The Edition newspaper reported that loans from the Export and Import Bank of India (Exim Bank) amounted to USD 1.4 million (MVR 22 million), contributing to the Maldives’ total debt to India, reaching MVR 6.2 billion by the end of 2023.
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