Muizzu Repeats Mentor's Mistake, IMF Warns Maldives Of 'High Debt Distress' Amid India Vs MaldivesUpdated: 09 Feb 2024, 04:35 PM ISTFrom 2013 to 2018, former Maldives President Abdul... moreFrom 2013 to 2018, former Maldives President Abdulla Yameen borrowed heavily from Beijing for construction projects. In 2021, Maldives foreign debt was 3 billion dollars, according to the World Bank. In November 2023, IMF warned Maldives that they're at a high risk of external debt distress. Now, IMF has raised a red flag again, saying that they're at a high risk of debt distress. Without getting into exact details of the foreign debt, IMF says that Maldives must URGENTLY adjust their policy.

Source: Mint February 09, 2024 11:08 UTC