Maldivian President Mohamed Muizzu is preparing to travel to India in a visit widely seen as helping to mend the already sensitive relationship between the two neighbors.
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| Maldives President Mohamed Muizzu. (Source: AP) |
Having weathered the ups and downs of history, Maldives and India have historically shared a close, cordial, and multifaceted relationship. While Maldives considers India its primary security partner, India recognizes Maldives' special place in New Delhi's "neighborhood first" foreign policy.
However, this relationship is showing signs of deterioration due to differences in interests and disagreements in some cases, particularly regarding Muizzu's direction of shifting away from India's "sphere of influence" to align with China.
Following his visit to Beijing in January 2024, Muizzu made a statement that greatly displeased New Delhi, saying that "Maldives will not be bullied," and that the country "is not a country in another nation's backyard."
Nevertheless, Male-New Delhi relations have not broken down. On the contrary, the "close neighbor" factor continues to prove its value, especially in the context of Maldives' current debt situation. Official data shows that Maldives' foreign debt exceeded US$4 billion in 2023, equivalent to 118% of the country's gross domestic product and an increase of nearly US$250 million compared to 2022.
Furthermore, October is the deadline for Maldives to pay $25 million, part of a $500 million debt from its Sukuk Islamic bonds.
Therefore, Muizzu's visit to New Delhi was described by the press as an opportunity for Maldives to escape the threat of default. The Maldivian Monetary Authority confirmed it was discussing a $400 million currency swap with India, while additional long-term loans were also being discussed.
Navigating the path between superpowers remains essential for the Maldives.
Source: https://baoquocte.vn/xoay-xo-giua-cac-sieu-cuong-286869.html
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