maldives Archives - India Alive

China is building projects at inflated prices says Maldives

November 28, 2018 AdminChina, debt, India, maldives0 comment

Maldives new finance minister said that China is building projects at inflated prices. China is executing infrastructure projects at vastly higher prices than originally proposed. But the island nation cannot get out of its commitments at this stage. President Ibrahim Mohamed Solih’s administration took office this month. The administration is reviewing contracts awarded his predecessor Abdulla Yameen. Most went to Chinese firms and are feared to have left the country in debt. During a five-year building spree, China built a sea bridge connecting the capital city of Male to…

Maldives seeks assistance from India in order to tackle mounting debt

November 26, 2018 AdminChina, debt, India, maldives0 comment

The Maldives seeks assistance from India. They are facing mounting foreign debt. Some of these debts are a result of dubious loan arrangements. The Maldives are looking at India for more budgetary support. That is required for Male to meet its development goals. Ahead of his meeting with Indian leaders, Maldives foreign minister Abdulla Shahid said that Male was still trying to study the implications of the debt accumulated the previous Abdulla Yameen government as figures provided government officials on foreign debt did not necessarily “tally with the Chinese…