Maldives minister hopes to get $ 250m from India

◗ Mr Shahid will hold talks with external affairs minister Sushma Swaraj on Monday

Visiting Maldivian foreign minister Abdulla Shahid has reportedly told an Indian news website that his country needs $ 250 million to $ 350 million immediately in order to tide over a budgetary crisis and that he is hoping for financial assistance from the Indian Government.

Mr Shahid will hold talks with external affairs minister Sushma Swaraj on Monday and said he would convey this to her. He also said the information was shared with Prime Minister Narendra Modi when he visited the Maldives a few days ago to attende the swearingin ceremony of new Maldivian President Ibrahim Mohamed Solih.

“We have an immediate budgetary crisis. We need US$ 250 million to 350 million in order to handle the difficult budgetary situation ... We’re hoping that we will once again be able to get the generous assistance of the Indian Government,” Mr. Shahid was quoted as telling the news website.

Mr Shahid also reportedly told the website that it is too early to say exactly how much the Maldives owes China even as he lambasted the tenure of former president Abdullah Yameen which he said was shrouded in “secrecy, corruption and underhand deals”. Mr Shahid also said the new Maldivian Government has established a commission to look into the financial crimes ( of the previous government), adding that he was hoping to get “expert assistance” in this regard from India, the US and Japan. The Maldivian Foreign Minister blamed former president Yameen for “purposely” landing the country in a terrible f inancial situation.

It may be recalled that former President Yameen was extremely close to China, with Beijing undertaking several infrastructure projects then in the tiny archipelago nation due to which the Maldives reportedly now owes a huge financial debt to China. But under the new Maldivian President Solih, India and its tiny maritime south- western neighbour are the closest of friends once again. Prime Minister Narendra Modi on November 17 had attended the swearing- in ceremony of President Solih. In his meeting with President Solih immediately after the ceremony, PM Modi had “conveyed India’s readiness to extend help in every possible way.”