India Extends Financial Lifeline to Maldives with Bond Roll-Over
India has extended the deadline for the repayment of a USD 50 million Treasury Bill by the Maldives government, providing 'emergency financial assistance.' This move reflects India's ongoing support and diplomatic efforts to strengthen economic ties with its key maritime neighbor in the Indian Ocean region.
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In a strategic move, India announced on Thursday the extension of a USD 50 million government bond held by the Maldives, as part of an emergency financial assistance package to help bolster the island nation's economy.
This marks another chapter in the ongoing economic collaboration between the two countries, cemented through Treasury Bill support, trade agreements, and development project funding. Discussions have also been held on potential free trade agreements and an array of financial accords.
High-level meetings continued this week with focus on trade expansion and development projects under India's Line of Credit. Maldives Finance Minister Moosa Zameer and India's High Commissioner addressed challenges, reaffirming commitments to deepen financial and trade relationships.
(With inputs from agencies.)
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