Maldives debt trap. However the debt trap problems created by china in its obor partner countries almost all of them low to mid income economies is pulling india in. Beijing reuters the maldives are not mired in a chinese debt trap the chinese governments top diplomat told the visiting maldivian foreign minister amid fears in the indian ocean country. Maldives keen to disentangle from chinas debt trap nasheed conveys to vp naidu.
Maldives parliament speaker mohamed nasheed on monday met vice president venkaiah naidu and conveyed. Over the past two months the maldives has been struggling to establish the full scale of its exposure to chinese debt most of which is in the form of sovereign guarantees on chinese loans to. The maldives appeared to fall victim to chinas so called debt trap diplomacy in which beijing seeks to render countries economically and ultimately strategically dependent on it by extending to.
While the election victory of president ibrahim mohamed solih in the maldives last month in effect put the country back in indias sphere of influence it has come with its own set of challenges. In december 2019 the speaker of the maldives parliament the peoples majlis and former president mohamed nasheed said maldives owed china 35 billion in loans which included 15 billion in government to government loans private loans and sovereign guarantees. The so called debt trap is entirely groundless according to the ambassador to the maldives zhang lizhong.
Maldives foreign minister abdulla shahid said the new money was part of a financial package to build bridges and causeways linking the capital male to three neighbouring islets. India helping the maldives which had been at its lowest has sent a message to the entire indian subcontinent that new delhi is willing to help them get out of the menace of chinese debt trap.
India Should Build Ties And Rescue Maldives From China S Debt Trap Challenge Beijing S Might In The Indian Ocean World News Firstpost
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