Muizzu Boards ‘India In’ Bus To Avert Sovereign Default

Muizzu Meets Modi To Cement India-Maldives Ties

By Manish Anand

New Delhi, October 7: Maldivian President Mohammad Muizzu on Monday mended ties with India. India and Maldives inked a slew of pacts. Muizzu held a comprehensive discussion with Prime Minister Narendra Modi on Monday.

India extended $400 million assistance to Maldives. Besides, India also extended a window of ₹30 billion. With India’s wholehearted assistance, Maldives will be able to bolster foreign currency reserves.

Maldives is struggling with economy. The Indian Ocean archipelago per strategic experts was on verge of a sovereign default. But Indian intervention will now stabilize the Maldivian economy.

Also Read: India-Maldives ties rework on fast lane with Muizzu’s India visit

“In so far as the currency swap agreement is concerned, this is an agreement that has two elements to it. There is the element to allow Maldives to avail a $400 million window and a separate ₹30 billion window under this,” said India’s Foreign Secretary Vikram Misri. He was briefing the media on the contour of the visit of Muizzu to India.

“The idea is essentially to bolster Maldives’ foreign exchange reserves, and that they have access to these reserves,” stated Misri. Muizzu is leading a “very large number of the delegation consisting of the Cabinet ministers from Maldives”.

In the presence of Modi and Muizzu, the ‘Adoption of India-Maldives: A vision for Comprehensive Economic and Maritime Security Partnership’ was unveiled. India and Maldives also committed to strengthening the defence partnership.

The strong emphasis on defence cooperation is in contrast to Muizzu insisting on India to recall “defence personnel from Maldives” after he had assumed power in Male. Afterwards, Maldives embarked on recalibration of ties with India in the month of June after the economy plunged in deep crisis in Male.

Also Read: Amid China’s foray in Maldives, US sends Richard Verma to India Male

The two leaders also oversaw unveiling of the roadmap for ‘refit of Maldives Coast Guard Ship Huravee’. India will undertake the refit works on gratis basis.

They also launched RuPay card in Male. Modi and Muizzu also unveiled a new runway of Hanimaadhoo International Airport. Modi also commissioned over 700 social housing units built in Maldives with the assistance of India.

It may be recalled that Muizzu had visited Beijing for his foreign bilateral visit after coming to power. Chinese President Xi Jinping had laid a red-carpet welcome for Muizzu and his delegation.

China and Maldives had also signed a strategic defence cooperation agreement. Maldives had hosted a number of Chinese ‘research vessels’. China had donated layers of glaciers to Male to meet the potable water needs of Maldives.

Muizzu is on a five-day visit of India. The bilateral relations had nosedived after Muizzu had come to power on an ‘India Out’ campaign. Later, Modi’s visit to Lakshadweep had set off a social media storm with calls given to boycott Maldives by the Indian tourists.

The Opposition parties in Maldives had launched a strong campaign against Muizzu’s ‘India Out’ campaign in parliament. India trains administrative officials of Maldives while also carrying out development works for the needs of the civilians.

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About The Author

Manish Anand

Manish Anand is a senior journalist with more than two decades of hardcore reporting on beats such as Prime Minister’s Office, Parliament, BJP, Congress, Planning Commission, NITI Aayog, and scores of Union Ministries.

His past has been with The New Indian Express, The Asian Age/Deccan Chronicle, and The Statesman.

For about 15 years, Manish was also a regular commentator and host for talks on AIR on foreign affairs.

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