By R.M. Panda
Maldives Relation with India is going downhill and could soon be beyond repair if Yameen continues to be in power. By getting closer to China, Saudi Arabia and even Pakistan, Yameen is seen to be sending a message to hapless India that Maldives can survive and even thrive without India. There were apprehensions in Maldives when Yameen declared an emergency and put behind bars all the emerging leaders and of the judiciary that India may physically intervene. Nothing happened. Soon, without keeping Yameen guessing India declared and even informed China that it will not intervene.
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Governor of Central Bank of Maldives Monetary Authority (MMA) Dr. Fazal Najeeb had said that Maldives is currently experiencing its most serious economic crisis of all times. Chinese Lending is putting the Maldives the risk of debt distress, a study from the Centre for Global Development Said. The study says China is heavily involved in three major projects that put together will be about $1.5 Billion and there will be repayment problems. IMF and World Bank both have predicted that Maldivians debt might reach 121% of its GDP by 2020.
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