China to help Maldives in economic recovery, Maldives top diplomat says
President Muizzu said the Chinese government had given the green signal to delay the repayment of loan dues for the next five years.
Chinese President Xi Jinping has sent a note to Maldives' President Mohamed Muizzu saying he accepts the current situation in the country's economy, Maldivian foreign minister Moosa Zameer said Saturday.
Speaking on Aslu TV, Zameer said that when he arrived at the airport to return to Male after completing his last visit to China last week, Chinese government officials handed him a special note from President Xi Jinping.
In his note to President Muizzu, the Chinese president said that the economic situation in Maldives will get better from the current situation.
"We will do everything we can to help the Maldivian government in this temporary situation," Zameer said, referring to the note.
Speaking at an official ceremony on the occasion of Independence Day on Friday evening, President Muizzu said the Chinese government had given the green signal to delay the repayment of loan dues for the next five years.
Maldives owes China $1.37 billion, including government sovereign guarantees, according to World Bank figures. This is 20% of the country’s external debt.
During his visit to China last week at the invitation of Chinese foreign minister Wang Yi, Zameer also met with Chinese banks to discuss the economic challenges in Maldives.
