Opposition leader and Maldivian Democratic Party (MDP) chairperson Fayyaz Ismail has commended India for its continued support to the Maldives, despite the government’s foreign policy challenges and economic difficulties.
In a post on X, formerly Twitter, Ismail stated, “Despite the challenges re Government of Maldives’ foreign policy and ongoing economic mismanagement, it is heartening to see that the strong bilateral relations between the Maldives and India endure. Thank you, India.”
Fayyaz’s remarks come after the State Bank of India (SBI) agreed to extend the maturity of a $50 million Treasury bill (T-bill) by one year at the request of the Maldivian government. This marks the second such rollover this year, following a similar extension in May 2024, also provided as emergency financial assistance.
Analysts attribute India’s decision to roll over the T-bill to its ongoing support for the Maldives under its ‘Neighbourhood First’ policy and Vision SAGAR, despite growing concerns about economic mismanagement under the current administration.