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Maldives struggling to repay Chinese loans

On
Maldives struggling to repay Chinese loans

Male, 18 May (HS):- Maldives is struggling to repay loans it had taken from China. It has also appealed to China to restructure the loans. Indian Monitory Fund (IMF) also warned of the risk of extending loans to Maldives. It is also said that after Shri Lanka China held Maldives under its tentacles of loans.

China said a discussion with Maldives about restructuring loan repayment is in progress. Chinese Ambassador in Maldives Wang Lixin said restructuring is not a solution and will pose problems in Maldives seeking loans again from China. The technical teams of China and Maldives are handling the issue carefully and responsibly.

Wang said China respected Maldives and different projects are being run by China not for earning profits.

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