Confronted with the prospect of a debt crisis and repayment of past loans from China, visiting Maldivian President Mohamed Muizzu on Monday thanked India for its offer of financial assistance to the Indian Ocean archipelago. The two countries also agreed to discuss a bilateral free trade agreement (FTA).
India extended two currency swap agreements to the Maldives, including an agreement worth $400 million and another worth 3,000 crore, to help the island nation's access to foreign currency.
The two countries also adopted a comprehensive economic and maritime security partnership, which has added a strategic dimension to the bilateral ties, Prime Minister Narendra Modi said after his talks with the visiting leader.
This story is from the October 08, 2024 edition of Business Standard.
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This story is from the October 08, 2024 edition of Business Standard.
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