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Page 2 - Maldives

India extends $50 million budgetary support to Maldives for another year

This is the second rollover granted by the Indian government this year, following the first rollover of a $50 million Treasury Bill in May

India extends $50 million budgetary support to Maldives for another year
Updated On : 20 Sep 2024 | 7:16 AM IST

India major partner for development of education sector: Maldives minister

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

India major partner for development of education sector: Maldives minister
Updated On : 19 Sep 2024 | 6:02 PM IST

Struggling Maldives sovereign bond rallies as country vows to avoid default

Concerns that cash-strapped Maldives could become 1st country to default on Islamic sovereign debt had pushed bond - its only listed international fixed-income instrument - to a record low last month

Struggling Maldives sovereign bond rallies as country vows to avoid default
Updated On : 12 Sep 2024 | 10:16 PM IST

Maldivian President Muizzu to officially visit on India 'very soon'

Maldivian President Mohamed Muizzu will travel to India on an official visit "very soon", his spokesperson said on Tuesday. Heena Waleed, the chief spokesperson at the President's Office, announced Muizzu's visit on a day when two junior ministers, suspended in January for derogatory comments against Prime Minister Narendra Modi - resigned from the government. She said that while the exact date for the trip is yet to be finalised, the two sides are discussing a date, which is of convenience to the leaders of both countries, the Sun Online news portal reported. "The President is scheduled to visit India very soon. As you are aware, such trips are scheduled for a time of maximum convenience to leaders of the two countries. Discussions regarding this are in progress, she said during a press conference. Muizzu, known for his pro-China leanings, visited New Delhi on June 9 to attend Prime Minister Modi's swearing-in ceremony. Unlike his predecessors, who made the first port of call to N

Maldivian President Muizzu to officially visit on India 'very soon'
Updated On : 10 Sep 2024 | 11:35 PM IST

Tourist haven destination Maldives under markets pressure as debt slumps

The security due 2026 dropped to 70.24 cents on the dollar Thursday, a record low. The sukuk has posted double-digit losses in August

Tourist haven destination Maldives under markets pressure as debt slumps
Updated On : 29 Aug 2024 | 10:45 PM IST

Maldivian President Muizzu accuses opposition of attempting financial coup

Maldivian President Mohamed Muizzu has accused the opposition of attempting to stage a "financial coup" and said all those behind the plot to topple his government would be brought to justice, media reports said on Tuesday. On Sunday, the Bank of Maldives (BML) suspended foreign transactions for existing debit cards, as well as new debit and credit cards linked to MVR accounts. It also lowered the monthly standard and gold credit card limit to USD 100. However, it reversed the decision within hours, saying it was based on instructions from its regulator, the Maldives Monetary Authority (MMA), The Edition news portal reported. Speaking at a party hub meeting of the ruling People's National Congress (PNC) on Monday night, President Muizzu said that he had worked to find a resolution for the Bank issue alongside his ministers as soon as he had become aware of the situation. He asserted that the bank's decision had been against his advice, the portal reported. Muizzu said that many had

Maldivian President Muizzu accuses opposition of attempting financial coup
Updated On : 27 Aug 2024 | 10:29 PM IST

Maldives' Oppn party welcomes recalibration of India policy by Muizzu govt

Main Opposition Maldivian Democratic Party has welcomed the recalibration of the India policy by President Mohammad Muizzu-led government and said that the Maldives is confident that India will always be the first to assist it in times of emergency. Abdulla Shahid, the president of the Maldivian Democratic Party, made the remarks after he met External Affairs Minister S Jaishankar here on Saturday. Jaishankar is on a three-day official visit to Maldives to reset the bilateral relationship, the first high-level trip from India after the archipelago nation's pro-China President Muizzu assumed office last year. "Great pleasure to warmly welcome and meet Indian External Affairs Minister @DrSJaishankar to the Maldives with my colleagues from @MDPSecretariat," Shahid, the former foreign minister, said in a statement posted on 'X' late Saturday night. "The Maldives has always been confident that India will always be the first responder any time the Maldives dials an international 911", h

Maldives' Oppn party welcomes recalibration of India policy by Muizzu govt
Updated On : 11 Aug 2024 | 1:12 PM IST

EAM Jaishankar inaugurates community development projects in Maldives

Jaishankar is in Maldives for an official three-day visit from August 9 to 11

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Updated On : 10 Aug 2024 | 7:21 AM IST

India adds two more ports for export of essential commodities to Maldives

India has announced two additional ports for the export of essential commodities from India to the Maldives for the financial year of 2024-25.The two new ports announced are namely: Kandla Sea (INIXY1) and Vishakhapatnam Sea (INYTZ1)."Government of India has announced the inclusion of two additional ports for export of essential commodities from India to the Maldives for FY 2024-2025," the Indian High Commission in Maldives said in a post on X.Kandla and Vishakhapatnam Customs Sea ports have been added to the list of ports allowed for Export of Essential Commodities. This is in addition to four ports which were already in use."In exercise of the powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act. 1992. read with paragraph 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, as amended from time to tone, the Central Government hereby amends Notification No 06/2023 dated 15 04 2024 incorporating (2) additional Ports for Export of

India adds two more ports for export of essential commodities to Maldives
Updated On : 02 Aug 2024 | 7:03 AM IST

Maldives to court Indian tourists with trade shows, celebrity campaigns

Amid strained India-Maldives ties since last year, during the January to July period of this year, Indian arrivals to the Maldives declined to approximately 71,000 from 110,000 the previous year

Maldives to court Indian tourists with trade shows, celebrity campaigns
Updated On : 31 Jul 2024 | 8:33 PM IST

Maldives President thanks India for strengthening country's fragile economy

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 thanks India for strengthening country's fragile economy
Updated On : 28 Jul 2024 | 4:33 PM IST

Ties based on shared democratic values: Indian High Commission to Maldives

India's "special relationship" with the Maldives is based on shared democratic values, the Indian mission here has said, expressing confidence in intensifying Parliamentary linkages with the archipelago nation. The Indian High Commissioner to the Maldives, Munu Mahawar, paid a courtesy call to Speaker of the Parliament Abdul Raheem Abdulla on Thursday. "The High Commissioner of India to the Maldives, H.E. Shri Munu Mahawar, paid a courtesy call on Hon. Abdul Raheem Abdulla, Speaker of the People's Majlis," the Maldivian Parliament's official account said in a post on X on Thursday. "India's special relationship with the Maldives is based on shared democratic values. We look forward to intensifying our Parliamentary linkages," the Indian High Commission said, reposting it. Earlier this month, Mahawar called on President Mohamed Muizzu at the President's Office, and the two nations reiterated the "unwavering" commitment to fostering "continued close relations" and enhancing bilateral

Ties based on shared democratic values: Indian High Commission to Maldives
Updated On : 26 Jul 2024 | 1:03 PM IST

Baku Summit tough, finance deal key to climate progress: Ex-Maldives prez

Negotiations at the UN climate conference in Baku in November are expected to be "extremely challenging", former Maldivian president Mohamed Nasheed has said while emphasizing that an agreement on a new finance goal is central to breaking the political deadlock on climate action. In an interview with PTI, Nasheed, the Secretary-General of the Climate Vulnerable Forum (CVF), said Azerbaijan's resolve to negotiate commitments upwards at COP29 under its presidency will be tested. The CVF is a group of developing countries highly vulnerable to climate change. It was founded in November 2009 in the Maldives' capital Male. The forum now comprises 68 countries representing 1.74 billion people. Nasheed said climate finance is all about responsibility and not aid. "It involves trillions of dollars, not billions, because the only way for us to truly fight climate change is to invest our way out of it," he said. Resolving the debate on the New Collective Quantified Goal (NCQG) at COP29 in Ba

Baku Summit tough, finance deal key to climate progress: Ex-Maldives prez
Updated On : 14 Jul 2024 | 3:08 PM IST

Maldives' Climate Minister arrested for 'black magic' on President Muizzu

Although sorcery is not a criminal offence under in Maldives, it can result in a six-month jail sentence under Islamic law

Maldives' Climate Minister arrested for 'black magic' on President Muizzu
Updated On : 27 Jun 2024 | 4:11 PM IST

'Hoping for strong bilateral relations': Mohamed Muizzu after India visit

Maldives President Mohamed Muizzu attended the swearing-in ceremony of Prime Minister Narendra Modi and described his first official visit to India as a major 'success'

'Hoping for strong bilateral relations': Mohamed Muizzu after India visit
Updated On : 12 Jun 2024 | 6:54 PM IST

Maldives faces high debt distress risk, financing challenges: World Bank

Highlighting that the Maldives has been spending beyond its means for decades, the World Bank has warned that the archipelagic nation faces high debt distress risk and financing challenges, making it vulnerable to shocks. World Bank Country Director for the Maldives, Nepal, and Sri Lanka Faris H Hadad-Zervos also said that the island nation's annual debt servicing needs are likely to be USD 512 million for the current and following years, and another USD 1.07 billion in 2026. Hadad-Zervos's statement, posted on his official X account, comes days after the Ministry of Finance here said that the public and publicly guaranteed debt is almost 110 per cent of Maldives' GDP. The heavily tourism-dependent nation had suffered badly due to the COVID-19 pandemic-induced lockdowns and started recovering only in 2023. According to the Ministry of Finance's Quarterly Debt Bulletin for Quarter 1, 2024 published on June 1, the public and publicly guaranteed (PPG) debt has risen to USD 8.2 billion

Maldives faces high debt distress risk, financing challenges: World Bank
Updated On : 12 Jun 2024 | 4:40 PM IST

Muizzu in Delhi, Maldives panel probes previous govt's pacts with India

Despite recent diplomatic gestures, India-Maldives relations remain tense as the Maldives reviews three agreements with India, citing sovereignty concerns

Muizzu in Delhi, Maldives panel probes previous govt's pacts with India
Updated On : 11 Jun 2024 | 12:06 PM IST

Muizzu's 1st India visit focused on boosting bilateral ties, says Maldives

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

Muizzu's 1st India visit focused on boosting bilateral ties, says Maldives
Updated On : 11 Jun 2024 | 11:54 AM IST

Seven world leaders in Delhi to attend PM Modi's oath-taking ceremony

Maldivian President Mohamed Muizzu arrived in Delhi on Sunday morning to attend the swearing-in ceremony of Prime Minister-designate Narendra Modi. It is Muizzu's first visit to India after he became the island nation's president in November last year. The Maldivian President is among the leaders from seven countries from India's neighbourhood and the Indian Ocean region attending the swearing-in ceremony of Modi and his council of ministers this evening at Rashtrapati Bhavan. "President @MMuizzu of Maldives arrives to a warm welcome in New Delhi to attend the swearing-in ceremony of Prime Minister and Council of Ministers," External Affairs Ministry spokesperson Randhir Jaiswal said on X. "India and Maldives are maritime partners and close neighbours," he added. Bangladesh President Sheikh Hasina and Vice-President of Seychelles Ahmed Afif have already arrived in Delhi. Besides Muizzu, Hasina and Afif, the other leaders attending the ceremony are Nepal Prime Minister Pushpa Kama

Seven world leaders in Delhi to attend PM Modi's oath-taking ceremony
Updated On : 09 Jun 2024 | 5:33 PM IST

Would be honoured to attend PM Modi's swearing-in ceremony: Maldivian Prez

Maldivian President Mohamed Muizzu said on Saturday that he would be honoured to attend Prime Minister Narendra Modi's swearing-in ceremony and his first visit to India for the historic event would demonstrate that bilateral ties are heading in a "positive direction". Muizzu's remarks came as he accepted the invitation to attend Prime Minister Modi's swearing-in ceremony in New Delhi. Modi will be administered the oath of office on Sunday, his third consecutive term as Prime Minister. President Muizzu has accepted the invitation to attend the swearing-in ceremony of Prime Minister Modi and the Council of Ministers of the Government of India, his office said in a statement. This will mark the pro-China president's first official visit to India since assuming office on November 17 last year. Unlike his predecessors, who made the first port of call to New Delhi after assuming office, Muizzu had travelled to Turkiye first and to China for his first state visit in January. Munu Mahawar,

Would be honoured to attend PM Modi's swearing-in ceremony: Maldivian Prez
Updated On : 08 Jun 2024 | 4:01 PM IST