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Maldives wants to restructure debt to China

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AP Colombo
Last Updated : Dec 05 2019 | 8:35 PM IST

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.

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First Published: Dec 05 2019 | 8:35 PM IST

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