• UGI USER
  • Mar 23, 2024
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MALDIVES PRESIDENT SEEKS DEBT RELIEF FROM INDIA AMID IMPROVED RELATIONS

Why in the news?

Maldives President seeks debt relief from India amidst strained ties, emphasising India’s aid contributions and strategic importance.

source:toi

About the Debt Relief Request:

  • Maldives President Mohamed Muizzu, despite prior anti-India rhetoric, now seeks debt relief from India.
  • Maldives owes approximately $400.9 million to India as of last year.
  • President Muizzu urges India to accommodate leniencies in loan repayment structure due to the hefty loans inherited from previous administrations.
  • President Muizzu acknowledges India as the Maldives’ closest ally, emphasising India’s instrumental role in aid provision and project implementation.
  • Recent withdrawal of Indian military personnel, following Muizzu’s demand, signals a positive turn in relations.
  • Muizzu’s conciliatory stance towards India precedes Maldives’ parliamentary elections in mid-April.
 Key Points on India-Out Campaign:

●   Recent years in Maldivian politics have seen the emergence of an “India Out” campaign, alleging Indian presence as a threat to Maldivian sovereignty.

●   Demands include the withdrawal of Indian military personnel, with the current President setting a deadline of March 15, 2024.

●   Tensions escalated further due to disparaging comments towards the Indian Prime Minister during a promotional visit to the Lakshadweep islands, leading to a “boycott Maldives” trend on social media.

About Operation Cactus:

●   Operation Cactus: Indian military operation in 1988 Maldives coup.

●   Objective: Thwarted coup attempt by Maldivians led by Abdullah Luthufi.

●   Assistance: Luthufi aided by armed mercenaries from Sri Lanka’s Tamil secessionist group, PLOTE.

About the initiatives between India and Maldives:

●   The Colombo Security Conclave, Indian Ocean Rim Association (IORA), South Asian Association for Regional Cooperation (SAARC).

●   South Asia Subregional Economic Cooperation (SASEC).

●   Security And Growth for All in the Region (SAGAR) initiative.

●   UN Security Council: Maldives supports India’s bid for a permanent seat in the United Nations Security Council (UNSC), demonstrating mutual cooperation and alignment on key international issues.

●   The Greater Male Connectivity Project (GMCP) and Hanimaadhoo International Airport Development project enhances connectivity and economic growth.

Note:Eight Degree Channel separates Indian Minicoy (part of Lakshadweep Islands) from that of Maldives.

Visit this site for more information about India Maldives Relationship:https://universalinstitutions.com/unravelling-the-dynamics-india-maldives/