'Maldives Will Run Out Of Cash In December, Hopes For Deal During President Solih's India Visit'

Last updated on Nov 27, 2018

Posted on Nov 27, 2018

The new Maldives Government is pulling out all stops in resetting ties with India. Foreign Minister Abdulla Shahid, Finance Minister Ibrahim Ameer and Economic Development Minister Fayyaz Ismail have met India’s National Security Adviser Ajit Doval, External Affairs Minister Sushma Swaraj, Defence Minister Nirmala Sitharaman and other officials on their first overseas visit. The Finance Minister has asked for an increase in the amount and roll-over time for a $200 million currency swap facility and immediate budgetary support of $250-350 million that are expected to be signed during President Ibrahim Solih’s first State visit, to India, on December 17. Ameer told SNI’s Associate Editor that an exact amount of the estimated $3.2 billion Chinese debt and the status of the country’s only the Free Trade Agreement—with China—will be announced within a week.

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