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Grapevine

Maldives and India Pledge to Boost Strategic Cooperation

  • Maldives' President Mohamed Muizzu and Indian PM Narendra Modi held talks, promising to strengthen strategic cooperation.
  • India approved a $400 million and a 30 billion rupee currency swap agreement to aid Maldives' economic recovery.
  • India and Maldives will start talks on a free trade agreement, aiming for stability and progress in the Indian Ocean region.
  • Much of Maldives' debt is owed to China and India, with fears of default following a hit to the tourism industry by COVID-19.
  • Despite initial tensions, relations between Maldives and India are improving, with India being a key partner in Maldives' development.

Source: Reuters

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