Maldives wants to restructure debt to China
The Maldives foreign minister says his country needs to restructure its massive debt to China, which he says has put the Indian ocean archipelago in a difficult situation.
Abdulla Shahid said the country’s Chinese debt currently totals about $1.4 billion.
He told reporters in Colombo, Sri Lanka, on Thursday that he is currently consulting with the Chinese government on this.
The Chinese loans have been given for housing projects, a bridge connecting the airport island with the capital island, Male, and for some state-owned enterprises.
Shahid said the loans were “unreasonable borrowings” by the previous government.
Since the government of President Ibrahim Mohamed Solih came into power last year, Maldives has begun a shift away from China toward traditional ally India.
(AP)
Dear Maldive Foreign Minister,
Sorry to hear your country is drowning under Chinese Debt.
Our country was drowning too until our previous brilliant Finance Minister decided to sell national assets to settle Chinese Loans.
Please employ or former Finance Minister ( khema’ge kolla) as a Consultant. I am sure he will be able to sell a few islands in the Maldives to the Chinese to build nuclear ammunition.
However, dear Foreign Minister of Maldives, if you wish to employ our former Finance Minister, you should be lenient on anti-gay laws in your country.
Mr Fiery Fernando. what about Sri Lanka drowning under Chinese Debt. One only way is to export people to middle east, Malaysia, Singapore and South Korea to do all menial jobs. Also to mention those who go to Australia, UK and USA as students to obtain a visa and up delivering pizza.