India is acutely aware of the Maldives’ current financial challenges and is ready to assist, President Mohamed Muizzu said during an interview with the BBC before leaving to India on Sunday for an official visit.
“India is fully cognisant 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,” Muizzu told the BBC in an email interview.
Asked about his “India Out” movement which formed a significant push during his presidential campaign, Muizzu said that if there were any differences between India and the Maldives, they would be resolved through dialogue.
The BBC also asked Muizzu about the expulsion of Indian troops and the non-renewal of the hydrography agreement with India. The President reiterated that such decisions were taken in the interest of the Maldives, as they reflected the will of the people.
On 27 June, Muizzu announced measures to cut spending as the country’s financial standing continued to deteriorate. The nation’s usable foreign reserves were completely depleted for the first time in August and credit rating agencies Fitch and Moody’s downgraded the nation’s credit rating citing a higher likelihood of a sovereign default.
Muizzu, who is expected to return to the Maldives on Thursday, is currently on an official visit to India at the invitation of Indian President Droupadi Murmu.
India, in September this year, rolled over US$50 million owed to the nation by the Maldives to 2025.
Relations between the Maldives and India had slumped to historic lows after Muizzu was elected to office. Coming into office on the heels of the “India Out” campaign, Muizzu was quick to initiate work to expel the Indian troops who were deployed in the operations of two helicopters and Dornier aircraft.
Then there was the issue of senior administration officials insulting Prime Minister Modi, followed by the President himself seemingly commenting unfavourably on India in the presence of the Indian Ambassador. Muizzu, upon his return from China, described India’s actions towards the Maldives as insulting and the previous previous administration of Ibrahim Mohamed Solih as being under India’s thumb. Muizzu also presented a plan to eliminate the Maldives’ dependence on India for imports of goods and for medical treatment.
Speaking during the parliamentary elections, the President said the opposition in Parliament were working like slaves under foreign influence.