Muizzu Confident Maldives Can Avoid Debt Crisis with Indian Assistance
President Dr Mohamed Muizzu has expressed confidence that the country can avoid a looming debt crisis with support from India, without resorting to an International Monetary Fund (IMF) programme.
In an email interview with the BBC ahead of his official visit to New Delhi, Muizzu highlighted the key role India plays in the Maldives’ development and its potential to help the island nation through its economic difficulties.
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“India is fully cognisant of our fiscal situation, and as one of our biggest development partners, will always be ready to ease our burden, find better alternatives and solutions to the challenges we face,” Muizzu stated.
Despite growing economic pressures, Muizzu affirmed that his administration would not seek IMF assistance, opting instead for a “home-grown agenda” to address the crisis.
The president’s remarks come as the Maldives faces increasing financial strain, though he remains hopeful that collaboration with India will provide a viable path forward.
Since taking office last November, Muizzu has had to navigate a complex relationship with India, a key regional partner. His election campaign prominently featured an anti-India stance, pledging to remove Indian military personnel from the Maldives. This position has created diplomatic challenges, including the suspension of senior officials in his administration earlier this year, following inflammatory remarks made on social media about Indian Prime Minister Narendra Modi.
However, President Muizzu emphasised the importance of resolving any tensions between the two nations through dialogue.
“We are confident that any differences can be addressed through open dialogue and mutual understanding,” he said, reaffirming his commitment to strengthening ties with India.
“The decisions taken are based on our evolving domestic interests and strategic priorities. The will of the people, that elected me 10 months ago,” he explained.
Muizzu reiterated his administration’s commitment to a ‘Maldives First’ foreign policy, which he outlined upon assuming office. He underscored that the Maldives’ foreign relations are guided by principles of mutual respect, trust, and non-interference.
“I believe both the Maldives and India have a better understanding of each other’s priorities and concerns,” he said, highlighting the potential for greater cooperation between the two nations.
As Muizzu embarks on his five-day visit to India, he expressed optimism that open communication would help resolve any lingering issues. “We believe that through open communication and collaboration, we can address any concerns, contributing to a peaceful and prosperous Indian Ocean region,” he said.
The visit is expected to focus on key issues including economic cooperation, regional security, and strengthening the diplomatic relationship between the Maldives and India.
