Muizzu changes tune? Maldivian Prez expresses hope to sign FTA with India
Maldives President Mohamed Muizzu expressed gratitude to India for its assistance in easing the island nation’s debt repayment. He also conveyed hope that New Delhi and Malé would strengthen their relationship and work towards signing a free trade agreement.
Muizzu was addressing the official Independence Day function in the Maldives on Friday.
During his address, Muizzu commended India’s foreign policy, celebrating eight months of ‘diplomatic success,’ according to the Maldives President’s Office.
He even stated that India will continue to remain the Maldives’ “closest ally” and emphasized that there was no question about it.
President Muizzu expressed gratitude to India and China for their support in easing the Maldives’ debt repayment, thereby enabling the country to ensure economic sovereignty.
Emphasizing the need to alleviate the local shortages of US dollars, he said that the Maldives government is negotiating currency swap agreements with both New Delhi and Beijing. The Maldives administration is negotiating a Free Trade Agreement (FTA) with the United Kingdom and expressed hope to reach a similar agreement with India.
The loan amount owed by Maldives to India by the end of last year stood at 6.2 billion Maldivian Rufiyaa, according to Maldives-based The Edition.
Maldives was warned by the International Monetary Fund (IMF) that it faces a high risk of debt distress without significant policy changes.
After coming to power, Muizzu visibly displayed ‘anti-India‘ rhetoric and he even ran the electoral campaign on the line of ‘India Out‘.
For all the latest updates, download PGurus App.
Men of low character, irrespective of how many times they plead, it has no value. Integrity & value is already lost.