Maldives President Dr Mohamed Muizzu has thanked India for the debt relief that has economically helped his country. Addressing a gathering at the Maldives Centre for Social Education (MCSE) last week, the president expressed his "sincere gratitude" to China and India "for their support in easing the Maldives’ debt repayment, thereby enabling the country to ensure economic sovereignty", according to a statement from Maldives' president office.

The Indian government has provided budget support of $50 million to the Maldives. This support was in form of a rollover of a $50 million Treasury Bill, for an additional year, through the State Bank of India, Male, announced in May this year.

During this year's budget for FY 2024-2025, the Indian government allocated Rs 400 crore ($47.7 million) for infra development and community projects.

<a href="https://www.wionews.com/india-news/india-reaffirms-support-for-projects-in-maldives-741966">Also read |&nbsp;India reaffirms support for projects in Maldives</a>

The Maldives saw a significant increase in the revised Indian budget for FY 2023-2024, rising to Rs 770.90 crore ($91.9 million), indicating ongoing support for its major infrastructure projects.

The Maldives president also announced that his government is in negotiation with India to facilitate currency swap agreement.&nbsp;

This financial arrangement would enable the Maldives to address local shortages of US dollars, thereby helping the country manage its liquidity and hedge against foreign exchange risks more effectively

<a href="https://www.wionews.com/videos/india-maldives-review-withdrawal-of-indian-military-personnel-701519">Watch |&nbsp;India, Maldives review withdrawal of Indian military personnel</a>

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President Muizzu expressed "hope" for a free trade agreement with India. The country is currently negotiating a Free Trade Agreement (FTA) with the United Kingdom and is set to sign an FTA with Türkiye which is "nearing completion". The Maldives-Türkiye FTA would enable duty exemptions or reductions for 53 types of products.

Maldives President Dr Mohamed Muizzu has thanked India for the debt relief that has economically helped his country. Addressing a gathering at the Maldives Centre for Social Education (MCSE) last week, the president expressed his "sincere gratitude" to China and India "for their support in easing the Maldives’ debt repayment, thereby enabling the country to ensure economic sovereignty", according to a statement from Maldives' president office.

Maldives President Dr Mohamed Muizzu has thanked India for the debt relief that has economically helped his country. Addressing a gathering at the Maldives Centre for Social Education (MCSE) last week, the president expressed his "sincere gratitude" to China and India "for their support in easing the Maldives’ debt repayment, thereby enabling the country to ensure economic sovereignty", according to a statement from Maldives' president office. The Indian government has provided budget support of $50 million to the Maldives. This support was in form of a rollover of a $50 million Treasury Bill, for an additional year, through the State Bank of India, Male, announced in May this year. During this year's budget for FY 2024-2025, the Indian government allocated Rs 400 crore ($47.7 million) for infra development and community projects. Also read | India reaffirms support for projects in Maldives The Maldives saw a significant increase in the revised Indian budget for FY 2023-2024, rising to Rs 770.90 crore ($91.9 million), indicating ongoing support for its major infrastructure projects. The Maldives president also announced that his government is in negotiation with India to facilitate currency swap agreement. This financial arrangement would enable the Maldives to address local shortages of US dollars, thereby helping the country manage its liquidity and hedge against foreign exchange risks more effectively Watch | India, Maldives review withdrawal of Indian military personnel × President Muizzu expressed "hope" for a free trade agreement with India. The country is currently negotiating a Free Trade Agreement (FTA) with the United Kingdom and is set to sign an FTA with Türkiye which is "nearing completion". The Maldives-Türkiye FTA would enable duty exemptions or reductions for 53 types of products.

Maldives president thanks India for debt relief, hopes for FTA with New Delhi

Having shifted its allegiances from India to China, the strategically placed Indian Ocean nation of Maldives is at high risk of "debt distress", according to a warning issued by the International Monetary Fund (IMF) on Wednesday (Feb 7).&nbsp;

The island nation has borrowed heavily from China, infamous for ensnaring smaller countries using its 'debt trap' tactics.&nbsp;

"Without significant policy changes, the overall fiscal deficits and public debt are projected to stay elevated," IMF said in its review of Maldives' economy.&nbsp;

"The Maldives remains at high risk of external and overall debt distress".

As per World Bank estimates, Maldives owes China about 43 per cent of its national debt which comes up to $3 billion.

<h2>Muizzi laments&nbsp;debt crisis&nbsp;</h2>

The warning by the monetary agency came a day after Maldivian President Mohamed Muizzi conceded that he could not launch new development projects in the country due to the debt situation.&nbsp;

"I want to carry out more development projects. But this is why we cannot start all the stalled projects and launch new projects in all the islands at once," said Muizzu.&nbsp;

"The next two months will be the most difficult. This is the most critical time.&nbsp;It will become much easier after July. But we're starting now to do the work necessary to earn income," he added.&nbsp;

<a href="https://www.wionews.com/videos/maldives-anti-president-faces-impeachment-muizzus-pro-china-moves-to-cost-him-684920">Watch |&nbsp;'Maldives' anti-India President | Muizzu's Pro-China Moves To Cost Him?</a>

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Despite lamenting about the debt crisis that his nation is facing, Muizzu has firmly planted himself in the China corner by angering New Delhi.&nbsp;

After his China visit last month which was a departure from the tradition of a Maldivian leader visiting India as the first foreign country, Muizzu thanked Beijing for its&nbsp;"selfless assistance" for development funds.&nbsp;

The two countries 'upgraded' their bilateral ties and signed 20 key agreements, including one in which Beijing pledged to extend funding for infrastructure in the Indian Ocean archipelago.

<a href="https://www.wionews.com/south-asia/maldives-opposition-appointed-prosecutor-general-stabbed-amid-political-crisis-685352">Also read |&nbsp;Maldives' opposition-appointed prosecutor general stabbed amid political crisis</a>

Speaking at an event at China's Great Hall of the People, Chinese President Xi Jinping referred to Muizzu as "an old friend".

Experts are of the view that Muizzu&nbsp;is following the line taken by his mentor and former president Abdulla Yameen, who ruled the island nation for five years and borrowed heavily from China.&nbsp;

After Yameen left the archipelago in tatters, it was New Delhi that provided the necessary help, only to be cast aside by&nbsp;Muizzu's hara-kiri policies yet again.&nbsp;

(With inputs from agencies)

Having shifted its allegiances from India to China, the strategically placed Indian Ocean nation of Maldives is at high risk of "debt distress", according to a warning issued by the International Monetary Fund (IMF) on Wednesday (Feb 7).

Having shifted its allegiances from India to China, the strategically placed Indian Ocean nation of Maldives is at high risk of "debt distress", according to a warning issued by the International Monetary Fund (IMF) on Wednesday (Feb 7). The island nation has borrowed heavily from China, infamous for ensnaring smaller countries using its 'debt trap' tactics. "Without significant policy changes, the overall fiscal deficits and public debt are projected to stay elevated," IMF said in its review of Maldives' economy. "The Maldives remains at high risk of external and overall debt distress". As per World Bank estimates, Maldives owes China about 43 per cent of its national debt which comes up to $3 billion. Muizzi laments debt crisis The warning by the monetary agency came a day after Maldivian President Mohamed Muizzi conceded that he could not launch new development projects in the country due to the debt situation. "I want to carry out more development projects. But this is why we cannot start all the stalled projects and launch new projects in all the islands at once," said Muizzu. "The next two months will be the most difficult. This is the most critical time. It will become much easier after July. But we're starting now to do the work necessary to earn income," he added. Watch | 'Maldives' anti-India President | Muizzu's Pro-China Moves To Cost Him? Despite lamenting about the debt crisis that his nation is facing, Muizzu has firmly planted himself in the China corner by angering New Delhi. After his China visit last month which was a departure from the tradition of a Maldivian leader visiting India as the first foreign country, Muizzu thanked Beijing for its "selfless assistance" for development funds. The two countries 'upgraded' their bilateral ties and signed 20 key agreements, including one in which Beijing pledged to extend funding for infrastructure in the Indian Ocean archipelago. Also read | Maldives' opposition-appointed prosecutor general stabbed amid political crisis Speaking at an event at China's Great Hall of the People, Chinese President Xi Jinping referred to Muizzu as "an old friend". Experts are of the view that Muizzu is following the line taken by his mentor and former president Abdulla Yameen, who ruled the island nation for five years and borrowed heavily from China. After Yameen left the archipelago in tatters, it was New Delhi that provided the necessary help, only to be cast aside by Muizzu's hara-kiri policies yet again. (With inputs from agencies)

IMF warns Maldives of 'debt crisis' due to China borrowing as Muizzu laments economic situation

The opposition Maldivian Democratic Party's (MDP) parliamentary group has agreed to submit an impeachment motion against&nbsp;President Mohamed Muizzu in light of the recent diplomatic tussle with ally nations such as India.&nbsp;

MDP,&nbsp;in partnership with another opposition party, The Democrats, has&nbsp;managed to gather enough signatures to initiate the impeachment motion. Videos accessed by WION showed the chaos inside the parliament as the ruling disposition attempted to thwart the no-confidence motion.&nbsp;

One of the MDP leaders, talking to WION said, a key reason why the motion was brought is because the current government had jeopardised the relations with India.&nbsp;

Notably, former president Ibrahim Mohamed Solih's MDP is&nbsp;in control of the parliament and the ruling combine - Progressive Party of Maldives (PPM) and President Muizzu's People's National Congress (PNC) - does not have a parliamentary majority.&nbsp;

The parliament's regulations were revised last year which grants MDP the power to impeach Muizzu without&nbsp;requiring support from minority parties.&nbsp;Following the amendment's parliamentary approval, an impeachment&nbsp;requires 54 votes while the current parliament session consists of 56 MDP members.

Additionally, the new amendment has reduced the number of members required on the impeachment committee to seven, while the inclusion of all the parties represented at the parliament is not required to be selected for the committee.

<a href="https://www.wionews.com/videos/maldives-parliament-proceedings-halted-as-mps-come-to-blows-684656">Watch |&nbsp;Maldives parliament proceedings halted as MPs come to blows</a>

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<h2>Ruckus inside the Maldivian parliament</h2>

The impeachment move comes barely 24 hours after videos of clashes inside the Maldivian Parliament between pro-government MPs and opposition lawmakers went viral on social media.&nbsp;&nbsp;

The visuals, exclusively accessed by WION, showed lawmakers engaged in a fierce altercation. The government's lawmakers of the&nbsp;PPM and PNC&nbsp;disrupted the proceeding over parliament and the speaker's functioning.

<blockquote>
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Dramatic visuals from Maldives Parliament as opposition MPs are prevented from entering Parliament floor ahead of Parliamentary approval of Muizzu's Cabinet. <a href="https://t.co/mVc6TT1yp4">pic.twitter.com/mVc6TT1yp4</a>
— WION (@WIONews) <a href="https://twitter.com/WIONews/status/1751560840384553352?ref_src=twsrc%5Etfw">January 28, 2024</a></blockquote>

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<a href="https://www.wionews.com/south-asia/video-maldives-lawmakers-fight-out-dramatic-scuffle-ahead-of-key-parliamentary-vote-684550">Video | Maldives: Lawmakers indulge in scuffle ahead of key parliamentary vote</a>

The scuffle broke out after MDP said it had decided not to vote to&nbsp;approve&nbsp;Minister of Islamic Affairs Dr&nbsp;Mohamed Shaheem Ali Saeed, Attorney General Ahmed Usham,&nbsp;Minister of Housing, Land and Urban Development Dr&nbsp;Ali Haidarand Minister of Economic Development and Trade Mohamed Saeed.

The ruling PPM-PNC has argued that denying the parliamentary approval to Muizzu's cabinet amounts to obstructing the services the government provides to its citizens.&nbsp;

(With inputs from agencies)

The opposition Maldivian Democratic Party's (MDP) parliamentary group has agreed to submit an impeachment motion against President Mohamed Muizzu in light of the recent diplomatic tussle with ally nations such as India.

The opposition Maldivian Democratic Party's (MDP) parliamentary group has agreed to submit an impeachment motion against President Mohamed Muizzu in light of the recent diplomatic tussle with ally nations such as India. MDP, in partnership with another opposition party, The Democrats, has managed to gather enough signatures to initiate the impeachment motion. Videos accessed by WION showed the chaos inside the parliament as the ruling disposition attempted to thwart the no-confidence motion. One of the MDP leaders, talking to WION said, a key reason why the motion was brought is because the current government had jeopardised the relations with India. Notably, former president Ibrahim Mohamed Solih's MDP is in control of the parliament and the ruling combine - Progressive Party of Maldives (PPM) and President Muizzu's People's National Congress (PNC) - does not have a parliamentary majority. The parliament's regulations were revised last year which grants MDP the power to impeach Muizzu without requiring support from minority parties. Following the amendment's parliamentary approval, an impeachment requires 54 votes while the current parliament session consists of 56 MDP members. Additionally, the new amendment has reduced the number of members required on the impeachment committee to seven, while the inclusion of all the parties represented at the parliament is not required to be selected for the committee. Watch | Maldives parliament proceedings halted as MPs come to blows × Ruckus inside the Maldivian parliament The impeachment move comes barely 24 hours after videos of clashes inside the Maldivian Parliament between pro-government MPs and opposition lawmakers went viral on social media. The visuals, exclusively accessed by WION, showed lawmakers engaged in a fierce altercation. The government's lawmakers of the PPM and PNC disrupted the proceeding over parliament and the speaker's functioning. #WATCH | Dramatic visuals from Maldives Parliament as opposition MPs are prevented from entering Parliament floor ahead of Parliamentary approval of Muizzu's Cabinet. pic.twitter.com/mVc6TT1yp4 — WION (@WIONews) January 28, 2024 × Video | Maldives: Lawmakers indulge in scuffle ahead of key parliamentary vote The scuffle broke out after MDP said it had decided not to vote to approve Minister of Islamic Affairs Dr Mohamed Shaheem Ali Saeed, Attorney General Ahmed Usham, Minister of Housing, Land and Urban Development Dr Ali Haidarand Minister of Economic Development and Trade Mohamed Saeed. The ruling PPM-PNC has argued that denying the parliamentary approval to Muizzu's cabinet amounts to obstructing the services the government provides to its citizens. (With inputs from agencies)

Maldives: Opposition to submit impeachment motion against President Muizzu

'Boycott Maldives' is gaining momentum in India. From businessmen to Bollywood celebs, all are taking part in 'Boycott Maldives' calls. While urging people to choose Indian destinations over foreign ones for vacations. Keep watching for more updates.

India-Maldives row: Amid row with India, Maldives urges China to send tourists

The Maldives had proposed a visit by President Mohamed Muizzu to India later this month. President Muizzu, who assumed office in November of last year, has so far visited Turkey, the UAE, and China, since coming to power, marking a departure from the tradition of making India the first foreign destination for a newly-elected Maldivian president. The India visit was proposed before the current diplomatic crisis erupted over derogatory remarks by the ministers of the Muizzu government. To know more watch this interview with Former Indian Diplomat, Bhaswati Mukherjee.

Maldives proposes visit by President Muizzu's to India

The Maldives had proposed a visit by President Mohamed Muizzu to India later this month. President Muizzu, who assumed office in November of last year, has so far visited Turkey, the UAE, and China, since coming to power, marking a departure from the tradition of making India the first foreign destination for a newly-elected Maldivian president. The India visit was proposed before the current diplomatic crisis erupted over derogatory remarks by the ministers of the Muizzu government.

Maldives faces heat over Anti-India comments, proposes Muizzu's visit to India

The newly elected president of Maldives, Mohammed Muizzu, has taken yet another step to undermine ties with India. After calling for the removal of Indian troops, Maldives has now decided to end the hydrology pact with India.

Gravitas | Muizzu's move signals pro-China pivot | Maldives ends Hydrology Deal with India

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