Maldives and India Forge Stronger Ties Amidst New Financial Agreements

President Mohamed Muizzu's visit to India is set to strengthen bilateral ties, focusing on development, defense, and economic cooperation. New financial agreements, including a $400 million currency swap deal, highlight India's support for Maldives' economic stability, underlining a historic and growing partnership.

In a bid to enhance bilateral cooperation, Maldives President Mohamed Muizzu's visit to India is focusing on solidifying the already robust relationship between the two nations. A series of development projects, defense collaborations, and economic agreements form the cornerstone of the discussions held with Indian leadership.

This historic visit marks the first bilateral engagement for President Muizzu with India since assuming office. It underscores India's critical role as Maldives' first responder in past crises, such as the 1988 coup attempt, natural disasters, and the COVID-19 pandemic, reiterating the depth of Indo-Maldivian ties.

Significantly, India has extended a $400 million currency swap agreement to support Maldives' economic resilience. This financial arrangement aims to bolster the island nation's foreign reserves and underscores the commitment to deepening maritime security and combating regional challenges like piracy and drug trafficking.

(With inputs from agencies.)