Posted 2/19/2024, 8:03:00 AM
Maldives Faces Looming Debt Crisis with $4 Billion Owed
- Maldives has high external debt of $4 billion and similar internal debt, with a crisis looming in 2026
- 30% of external debt is owed to China, at $1.3 billion, with bonds maturing in 2026
- President seeking aid from China and others but none seems forthcoming
- Public mood lukewarm to Belt and Road infrastructure projects after problems elsewhere
- India prepared to help in a humanitarian crisis but otherwise taking a wait-and-see approach
