- Table of Contents:
- President Muizzu’s plea for Economic challenges and the Need for Support
- Contrasting Campaign Rhetoric & Current Diplomacy
- India’s past and potential Financial Aid
- President Muizzu’s Reconciliation efforts with India
President Muizzu’s plea for Economic challenges and the Need for Support:
Mohammed Muizzu, the president of the Maldives, told the Sources that he is optimistic India will
support the island nation through its economic difficulties. It is anticipated that Muizzu, who
departs for India on Sunday for a five-day tour, will request a rescue of hundreds of millions of
dollars.
The Maldives’ foreign exchange reserves have fallen to $440 million (£334 million), hardly
enough for one and a half months’ worth of imports, and the country faces impending financial
default.
In an email interview with the BBC prior to his arrival, Muizzu stated, “India is fully cognizant 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.”
Contrasting Campaign Rhetoric & Current Diplomacy:
Experts note out that President Muizzu’s tone of reconciliation with Delhi contrasts sharply with the
language he used a year ago during his campaign for office. The “India out” doctrine, which
called for Delhi to remove its soldiers from the island nation, was at the heart of that campaign.
While speaking to the sources, Muizzu stated, “We are confident that any differences can be
addressed through open dialogue and mutual understanding,” rather than addressing his anti-
India campaign directly.
The aid package from India will increase the nation’s foreign exchange reserves. The Maldives’
credit rating was cut by international rating agency Moody’s last month due to “materially
increased default risks.”
Male, however, Muizzu told the sources , is not facing a sovereign debt default, and the nation
will not join an International Monetary Fund (IMF) initiative to address the situation. “We have
our own home-grown agenda,” he stated.
India’s past and potential Financial Aid:
“Foreign” reserves, according to Moody’s, “remain significantly below the government’s external
debt service of approximately $600 million in 2025 and over $1 billion in 2026.” Because it’s
unclear where Muizzu will get the money to go over the reserves dilemma, it’s important that he
travels to Delhi.
Male has previously received financial help from India totaling $1.4 billion for a range of
infrastructural and economic initiatives. Muizzu took office in November 2023, and since then,
there has been tension between Delhi and Male.
He made the decision to visit China and Turkey shortly after assuming office; his January trip to
the latter country was particularly viewed as a high-profile jab at India, because previous
Maldivian leaders had made their first trip to Delhi following their election.
At approximately the same time, three Maldivian officials made disparaging remarks about Prime
Minister Narendra Modi, which sparked a stir in India. Additionally, Muizzu ordered India to
remove its about 80 troops stationed there.
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President Muizzu’s Reconciliation efforts with India :
Delhi claimed to be stationed there in order to maintain and fly a Dornier aircraft that it had
provided years prior, as well as two rescue and surveillance helicopters. Ultimately, a solution
was negotiated between the two nations, wherein Indian civilian technical professionals would
operate the aircraft in place of the soldiers.
The previous government signed a hydrographic survey agreement with India to map the seabed
in Maldivian territorial seas, and Muizzu’s administration declared that it would not renew it.
However, the president of the Maldives stood by his choice. “Our shifting domestic interests and
strategic priorities inform the judgments we make. the people’s will who chose me ten months
ago,” Muizzu declared.
He continued, “I think there is a greater understanding of each other’s priorities and concerns
between the Maldives and India.” A few of Muizzu’s choices were perceived as an attempt to
weaken Delhi’s sway and strengthen connections with China, India’s adversary.
Much to Delhi’s chagrin, Muizzu’s government let the Chinese research ship Xiang Yang Hong 3
to make a port call in the Maldives in February. Some perceived it as an effort to gather
information that the Chinese military would utilize for submarine operations in the future.
However, Muizzu disputes the pro-China label. “We have a ‘Maldives First’ foreign policy, which I
made clear the day I entered office. The pursuit of peace and prosperity, non-interference, and
mutual respect and trust serve as the guiding principles of our ties with other countries, he maintains.
He states, “We think that by working together and maintaining open lines of communication, we
can resolve any issues and contribute to a prosperous and peaceful Indian Ocean region.”
Analysts claim that despite Muizzu’s efforts to bring Male closer to Beijing, financial support from
China has not materialized. Because of this, the president’s remarkable change of heart towards
India is grounded in stark reality.
According to Maldivian analyst Azim Zahir, Muizzu’s journey to Delhi “is a realisation of how
dependent the Maldives is on India, a dependency that no other country will find easy to fill”.
