Foreign Minister Moosa Zameer has announced that he formally requested the Indian government to consider extending the repayment period for a USD 200 million loan provided to the Maldives as budgetary support in 2019 during Ibrahim Mohamed Solih’s presidency.
During a press conference yesterday at the President’s Office, Minister Zameer disclosed that USD 50 million of the total loan amount had already been repaid to India in January of this year.
Responding to a query from Atoll Times, Minister Zameer clarified that the Maldives had approached India seeking an extension for the repayment schedule.
According to Indian officials, USD 50 million of the USD 200 million loan was granted as free aid during the previous government’s tenure, leaving a balance of USD 100 million to be repaid at present.
Minister Zameer highlighted that none of the loans obtained in 2019 had been repaid by the conclusion of the previous administration.
Emphasising India’s consistent support to the Maldives, the minister remarked, “India has consistently demonstrated its commitment to addressing the needs of our nation, assuring us of ongoing assistance with significant issues. Historically, they have facilitated our requirements, and this ongoing support has been reaffirmed through direct communication.”
Furthermore, Minister Zameer underscored the challenges faced by the current administration regarding the escalated debt levels inherited from the previous government, expressing the administration’s commitment to exploring feasible avenues for managing and repaying these obligations effectively.
