Explore Business Standard
New Delhi has rolled over, for one more year, USD 50 million Maldives' government bonds as an emergency financial assistance, the Indian High Commission said here Thursday. The deadline for the repayment of a USD 50 million Treasury Bill (T-bill) was extended once again on the request of the Maldives government. Since March 2019, the Government of India has been facilitating subscription of several such Treasury Bills by the State Bank of India (SBI) and rolling them over, annually, interest-free to the Government of Maldives, the Indian High Commission said in a statement. On the request of the Government of Maldives, the State Bank of India (SBI) has subscribed, for one more year, a USD 50 million Government Treasury Bill issued by the Ministry of Finance of Maldives, the statement said. The deadline for repayment was Thursday. This has been done under a unique Government-to-Government arrangement, as an emergency financial assistance to Maldives, the statement, posted on the Hi
India and the Maldives on Friday exchanged eight key agreements covering a wide range of sectors, including Line of Credit, debt repayment, fisheries, digital transformation, and Unified Payments Interface (UPI), in the presence of Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu."Delighted to exchange eight Agreements related to Line of Credit, debt repayment, FTA, fisheries & aquaculture, digital transformation, pharmacopoeia and UPI in the presence of PM @narendramodi and President @MMuizzu today in Male," External Affairs Minister S. Jaishankar posted on X.Confirming the development, the President's Office of the Maldives stated, "President witnesses exchange of key MoUs and agreements between the Maldives and India."The exchange of agreements set the tone for high-level discussions that followed, as Prime Minister Narendra Modi and President Mohamed Muizzu took stock of the implementation of the India-Maldives Joint Vision for a 'Comprehensive Economic ...
Maldives Foreign Minister Abdulla Khaleel arrived here on Thursday on a three-day visit to explore ways to bolster bilateral ties in several key areas including maritime security, trade and investment. Khaleel's trip to India comes nearly three months after Maldives President Mohamed Muizzu visited India. On Friday, the Maldivian foreign minister will hold wide-ranging talks with his Indian counterpart S Jaishankar covering almost all aspects of India-Maldives ties. "Working towards India-Maldives joint vision of a 'Comprehensive Economic & Maritime Security Partnership'. Warm welcome to FM @abkhaleel of Maldives on his first official visit to India," External Affairs Ministry spokesperson Randhir Jaiswal said on 'X'. The Maldives is one of India's key maritime neighbours in the Indian Ocean Region and the overall bilateral ties including in areas of defence and security witnessed an upward trajectory under the previous government in Male. The ties between India and the Maldives .
India remains a major partner for Maldives and also a major contributor to the development, especially in the education sector, Maldives Education, Labour & Skills Minister Ahmed Shafeeu has said. He was addressing education and skilling resources exhibition and conference DIDAC INDIA, on Wednesday. "India has been a leader in many ways, not only in the region but also globally. When we consider India's economic and technological development, as well as its contributions to education and skill development, it's important to recognize its significance," Shafeeu said at the three-event that began on September 18 here. The event is being organised by Messe Stuttgart India in collaboration with India Didactics Association (IDA). It was inaugurated by renowned spiritual leader Sri Sri Ravi Shankar in the presence of Shafeeu and Jacinta Allan, Premier of Victoria. Ravi Shankar said educational institutions should prioritize addressing the mental health issues of teachers, students, and
President Mohamed Muizzu has thanked India and China for helping strengthen the Maldives' fragile economy, highlighting the importance of the two countries in addressing the Island nation's looming debt crisis and its future development. China and India provide the most assistance in repaying the country's debt, President Muizzu said on Friday at an official function held to mark the 59th anniversary of the country's independence. "I thank the Chinese government and the Indian government on behalf of the Maldivian people for their cooperation with this effort to strengthen the economy, to assure our economic sovereignty, for the sake of the Maldivian people," Muizzu was quoted as saying by Maldivian news portal adhadhu.com. Muizzu came to power last year on an anti-India campaign plank seeking the removal of around 80 Indian military personnel operating helicopters and Dornier aircraft donated by India. China for its part has scaled up its relations with Maldives, since Muzzu, wide
Maldives President Mohamed Muizzu discussed ways to strengthen bilateral cooperation with India on his first official visit to the country, the foreign ministry said here on Tuesday. Muizzu, known for his pro-China leanings, was in India for the swearing-in ceremony of Prime Minister Narendra Modi and the Union Council of Ministers. Modi was sworn in as prime minister on Sunday for a record-equalling third term, heading the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) government. Top leaders from India's neighbourhood and the Indian Ocean region, including Nepal Prime Minister Pushpa Kamal Dahal 'Prachanda', Sri Lankan President Ranil Wickremesinghe and Mauritius President Pravind Kumar Jugnauth, attended the ceremony. Muizzu concluded his official visit and arrived back in Male on Tuesday morning, according to the Foreign Ministry here. "The President travelled to India at the invitation of Prime Minister His Excellency Narendra Modi, to attend the swearing
External Affairs Minister S Jaishankar on Thursday conveyed to his Maldivian counterpart Moosa Zameer that the development of India-Maldives ties is based on "mutual interests" and "reciprocal sensitivity". Jaishankar's remarks came amid a downturn in the bilateral ties between the two countries since pro-China president Mohamed Muizzu assumed office six months back. "As close and proximate neighbours, the development of our ties is obviously based on mutual interests and reciprocal sensitivity," the external affairs minister said in his opening remarks in his meeting with Zameer here. "As far as India is concerned, these are articulated in terms of our Neighbourhood First policy and SAGAR (Security and Growth for all in the Region) vision. I hope that our meeting today will enable us to strengthen the convergence of our perspectives in various domains," Jaishankar said. The relations between the two countries came under severe strain in view of Muizzu insisting on withdrawal of ..