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Business News/ Videos / News/  Muizzu Repeats Mentor's Mistake, IMF Warns Maldives Of 'High Debt Distress' Amid India Vs Maldives

Muizzu Repeats Mentor's Mistake, IMF Warns Maldives Of 'High Debt Distress' Amid India Vs Maldives

From 2013 to 2018, former Maldives President Abdulla Yameen borrowed heavily from Beijing for construction projects. In 2021, Maldives foreign debt was 3 billion dollars, according to the World Bank. In November 2023, IMF warned Maldives that they're at a high risk of external debt distress. Now, IMF has raised a red flag again, saying that they're at a high risk of debt distress. Without getting into exact details of the foreign debt, IMF says that Maldives must URGENTLY adjust their policy. But Muizzu seems to be set on repeating his mentor's mistake. Watch

 
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