News Maldives / debt Maldives Impact 8.0/10 3 min read

China Prioritises Grant Aid Projects Over Restructuring Maldives’ Debt, Says Ambassador Wang

Chinese Ambassador Wang Lixin stated on Thursday that China will not restructure Maldives' debt, prioritizing grant aid projects instead. The Maldives owes $1.37 billion to China, 20% of its external debt. President Muizzu had mentioned deferral, but MMA said no restructuring was known. Wang emphasized avoiding debt traps and focusing on economic self-reliance, highlighting grant projects like Sinemalé Bridge maintenance, hospital upgrades, and a 100-bed hospital in Villimalé.

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Maldives Republic

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May 17, 2024

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Chinese Ambassador Wang Lixin stated on Thursday that China will not restructure Maldives' debt, prioritizing grant aid projects instead. The Maldives owes $1.37 billion to China, 20% of its external debt. President Muizzu had mentioned deferral, but MMA said no restructuring was known. Wang emphasized avoiding debt traps and focusing on economic self-reliance, highlighting grant projects like Sinemalé Bridge maintenance, hospital upgrades, and a 100-bed hospital in Villimalé.

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Focus: China Prioritises Grant Aid Projects Over Restructuring Maldives’ Debt, Says Ambassador Wang

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