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IMF warns Maldives of 'high debt distress' risk amid heavy Chinese borrowing

TOI.in / Feb 08, 2024, 15.14 PM IST

IMF cautions Maldives over high debt distress risk due to heavy Chinese borrowing and allegiance shift from India under President Mohamed Muizzu. Muizzu's pro-Beijing stance, evidenced by increased Chinese funding and prioritizing Beijing, contrasts with IMF's call for urgent policy changes to mitigate fiscal deficits and public debt.

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