Maldivian president Muizzu seeks India's help amid economic crisis in state visit

World News: Maldivian President Mohamed Muizzu is set to raise the issue of economic aid during his first bilateral state visit to India, beginning on Sunday. Muizzu, known for his pro-China stance, aims to reset strained relations between the two nations and seeks a bailout to address the Maldives' balance of payments crisis.

Upon his arrival, Muizzu was received by India's Minister of State for External Affairs, Kirti Vardhan Singh, marking the start of a series of high-level meetings, including discussions with Indian Prime Minister Narendra Modi. External Affairs Minister S Jaishankar, who met Muizzu soon after his arrival, praised the Maldivian President's commitment to strengthening ties with India.

#WATCH | Maldives President Mohamed Muizzu and First Lady of Maldives, Sajidha Mohamed arrive at Delhi airport.

During this visit, President Muizzu will hold meetings with President Murmu, Prime Minister Narendra Modi and other senior officials. pic.twitter.com/ei5CtjrD5s

— ANI (@ANI) October 6, 2024

More on Muizzu's arrival 

In his statement to the media before his arrival, Muizzu expressed optimism about India's support, citing its crucial role as one of the Maldives' biggest development partners. He also acknowledged the urgent need for India's help, given the country’s precarious financial situation. With foreign exchange reserves standing at only $440 million, just enough for six weeks of imports, the Maldives is on the verge of defaulting on its debt.

In the past, India has extended vital financial support to the Maldives, including subscriptions to treasury bills worth $50 million through the State Bank of India (SBI). Muizzu's visit marks a significant shift from his previous anti-India stance, as he has now called for greater cooperation through open dialogue and mutual understanding.