The Maldives, under former President of Maldives Abdulla Yameen, saw the increased role of Chinese companies and government, something that has shown its impact. Between 2012 and 2018, Chinese entities signed contracts between USD 2 to USD 3 billion, some at exorbitant repayment interest rates. The true figures of Maldives debt to China are still not known, such is the magnitude of the crisis. Add to this, the rushed through Maldives China Free trade agreement in 2017. The first thing New Delhi did was announce USD one billion in 2018 during New Maldives President's India visit.

Source: dna November 18, 2020 09:45 UTC