Maldives President Muizzoo reaches India with 9 ministers, will discuss to improve the economic condition of the country

New Delhi. Maldivian President Mohammed Muizzu has reached India on a five-day visit, where he is likely to demand a relief package in a bilateral meeting with Prime Minister Modi on Monday, as the island country is facing an economic crisis and debt default. There is a possibility of his defaulting. This is Muizzu’s first official bilateral visit after coming to power late last year following an election campaign focused on the India Out policy, in which he promised to reduce Delhi’s influence. Since then, relations between the two countries have been strained, but experts say the visit shows that the Maldives cannot ignore its giant neighbor. Maldives’ foreign exchange reserves stood at about $440 million in September, which allows it to import goods for only 45 days. Last month, global agency Moody’s downgraded the Maldives’ credit rating, saying the default risk had increased significantly. Indian bailout will boost Maldives’ foreign exchange reserves and also reduce its chances of defaulting. Maldives President Mohammed Muizzu has arrived in India along with his wife Sajida Mohammed and a high-level delegation of Maldives government officials. And he will be officially welcomed on Monday. During his visit from October 6-10, Muizzu will meet Prime Minister Narendra Modi, External Affairs Minister S Jaishankar and other top ministers and discuss various bilateral, regional and international issues. During this visit of the President, many agreements are expected to be signed between the two countries, which can increase bilateral cooperation. Source : palpalindia
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