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Maldives True Gesture Of Goodwill As India Continues Budgetary Support

Photo-PTI

In a demonstration of goodwill, India has chosen to extend crucial budgetary assistance to the Maldives government by rolling over a USD 50 million Treasury Bill for an additional year, as per the Maldivian government's special request. This decision, announced on Monday, involves the State Bank of India subscribing to the USD 50 million Government Treasury Bill for another year upon maturity of the previous subscription, according to a statement by the High Commission of India.

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Despite recent strains in bilateral relations following the assumption of office by Maldives President Mohamed Muizzu, known for his pro-China stance, the Indian government has decided to continue its support. The Government Treasury Bills are subscribed by SBI under a government-to-government arrangement at zero cost to the Maldives government. The extension of subscription was made at the special request of the Maldivian government to secure budgetary support from India. Expressing gratitude, the Maldivian government thanked India for its assistance, with Foreign Minister Moosa Zameer highlighting the significance of the gesture as a testament to the enduring friendship between the two nations.

The Indian government's provision of budget support through the rollover of the USD 50 million Treasury Bill underscores its commitment to fostering collaborative partnerships and developmental initiatives in the Maldives. Zameer, upon his return from an official bilateral visit to India, emphasized the progress made in expediting India-assisted projects in the Maldives, signaling a commitment to prioritize their resumption and completion.

This development comes amidst recent tensions in bilateral ties, notably regarding the withdrawal of Indian military personnel from the Maldives at the request of the new government. However, while the military personnel have been replaced by civilian employees, the Maldives government has affirmed its intention to retain Indian doctors at Senahiya, underscoring the nuanced dynamics within the bilateral relationship.

May 13, 2024 5:32 p.m. 8046

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