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On Maldives Independence Day, Muizzu said that both India and China have helped a lot in repaying the debt.
President Mohammed Muizzu has expressed his gratitude to India for helping strengthen the Maldives economy. Addressing the nation on the occasion of Maldives’ Independence Day, he said that both India and China have helped Maldives a lot in repaying its debt.
Muizzu expressed hope that India and Maldives will build strong relations and sign a free trade agreement soon. Regarding the shortage of US dollars in Maldives, Muizzu said that his government is talking to India and China on a currency swap agreement.
India has given assistance of Rs 400 crore to Maldives under the ‘Neighbors First Policy’. Maldives expressed gratitude for this and hoped that India would help in making the payment of the debt easier.

In his address to the nation, President Muizzu praised Maldives’ foreign policy and also celebrated his government’s 8 months of ‘diplomatic success’.
Maldives is facing economic crisis, IMF had warned
According to a Reuters report, a few months ago the IMF had warned Maldives that if it did not change its economic policy, it could face debt problems. Earlier in a meeting on Friday, Muizzu had said that China had given relief from debt repayment for five years.
There has been tension between the two countries since the government of Mohammad Muizzu, who ran the ‘India Out’ campaign in Maldives, came to power in November last year. The tourism sector of Maldives is suffering due to this. After the objectionable remarks made on Prime Minister Modi in January 2024, the number of Indian tourists visiting Maldives has reduced significantly.
To resolve this tension between the two countries, Maldives Tourism Minister Ibrahim Faisal is coming on a visit to India. He will hold road shows in big cities like New Delhi, Mumbai and Bangalore to attract Indian tourists. During this, people will also be appealed to visit Maldives in maximum numbers.

Maldives Tourism Minister Ibrahim Faisal will hold road shows in New Delhi, Mumbai and Bengaluru.
The number of Indians visiting Maldives continues to decline
Ibrahim Faisal is coming to India at a time when the number of Indian tourists visiting Maldives has decreased rapidly. Between January and April this year, Indian tourists visiting Maldives have declined by 42 percent compared to last year. In the first four months of 2023, the maximum number of Indian tourists went to China. Tourists from China were at number three in this case.
According to the data of the Maldives Tourism Department, 73,785 Indians visited Maldives between January and April in 2023. This year this figure was 42,638. Compared to last year, Maldives lost 31,147 tourists in just 4 months.
According to the data, only 15,003 Indians reached Maldives in January 2024. This figure was 18,612 in January 2023. At the same time, 11,522 Indian tourists went to Maldives in February 2024. A year ago in February 2023, this figure was 19,497.
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