Maldives seeks financial lifeline from China after Fitch downgrades country’s rating to junk

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According to official data, as of 2023, the Maldives’ foreign debt was stated to be over USD four billion of which it owes about USD 1.5 billion to its biggest lender China. read more A waiter prepares the table at a restaurant at a resort on an island at Har Alif Atoll in the Maldives. The island nation has witnessed a dip in Indian tourists amid the ongoing New Delhi-Male spat. File image/Reuters Maldives Minister for Trade Mohamed Saeed on Thursday held talks with Chinese banks to form strategic alliances to boost his country’s economy as the US credit ratings...