Maldives President Muizzu meets PM Modi today; says India is aware of the fiscal situation and will ease the burden.

Ahead of his bilateral meeting on Monday with Prime Minister Narendra Modi, Maldives President Mohamed Muizzu has highlighted the need for financial aid to his country. He mentioned that Delhi is "fully cognizant" of the island nation's fiscal situation and will always be ready to "ease the burden" as one of Male's biggest development partners.

Ties between the two countries have been strained since Muizzu came to power last November on an 'India Out' election platform. Muizzu arrived in New Delhi on Sunday for his first bilateral state visit. He was received at the airport by Minister of State (External Affairs) Kirti Vardhan Singh. During his five-day visit from October 6 to 10, he will also travel to Agra, Mumbai, and Bengaluru.

External Affairs Minister S Jaishankar met with President Muizzu and expressed his appreciation for the President's commitment to enhancing the relationship between India and Maldives. He expressed confidence that the President's talks with the Prime Minister on Monday "will give a new impetus to our friendly ties."

Randhir Jaiswal, spokesperson for the Ministry of External Affairs, extended "a warm welcome" to the President and First Lady Sajidha Mohamed. Jaiswal mentioned that the visit would further boost the long-standing comprehensive bilateral partnership.

President Muizzu and First Lady Sajidha Mohamed are on a state visit at the invitation of President Droupadi Murmu. A high-level government delegation accompanies the President and First Lady.

In remarks before his departure for New Delhi, Muizzu outlined the primary goal of the visit, emphasizing India's understanding of the Maldives' fiscal situation and its readiness to provide support. India has already offered financial support worth $1.4 billion to Male for various infrastructure and development projects.

The Maldives is facing a potential debt default as its foreign exchange reserves have dropped to $440 million, just enough for one-and-a-half months of imports. Last month, global agency Moody's downgraded the Maldives' credit rating, citing a material rise in default risks.

Muizzu told the BBC that Male was not facing a sovereign debt default and that the country would not join an International Monetary Fund (IMF) programme to handle the crisis. He stated, "We have our home-grown agenda."

However, Moody's has stated, "(foreign) reserves remain significantly below the government’s external debt service of around $600m in 2025 and over $1bn in 2026."

Muizzu's visit is significant as India and Maldives saw a decline in bilateral ties after Muizzu took office last year. He initially asked India to withdraw its military personnel, and the two countries later agreed that India would pull out its 80-odd military personnel stationed in the Maldives between March 10 and May 10. The Ministry of External Affairs announced that two helicopters and a Dornier aircraft in the Maldives would be operated by competent Indian technical personnel who would replace the present personnel.

After the replacement of personnel was completed, Maldives Foreign Minister Moosa Zameer visited New Delhi in May, and a month later, Muizzu attended Modi’s swearing-in ceremony. In August, External Affairs Minister S Jaishankar went to Male to discuss all areas of bilateral cooperation.

Speaking to the BBC, Muizzu did not directly address his anti-India campaign but said, “We are confident that any differences can be addressed through open dialogue and mutual understanding.” This was a reiteration of the reconciliatory tone of his statements. He also emphasized that Maldives' foreign policy is guided by the principles of mutual respect and trust, non-interference, and the pursuit of peace and prosperity.

Muizzu emphasized, “We believe that through open communication and collaboration, we can address any concerns, contributing to a peaceful and prosperous Indian Ocean region,” reflecting a significant shift from his previous anti-India position.

Earlier this year, after his bilateral visit to China, Muizzu had targeted India by calling it a bully without naming it. However, ahead of the Delhi visit, he stated, “I believe both the Maldives and India have a better understanding of each other’s priorities and concerns.”

The Ministry of External Affairs announced that Muizzu will meet President Draupadi Murmu and hold discussions with Prime Minister Narendra Modi on bilateral, regional, and international issues of mutual interest. It highlighted the importance of Maldives as India’s key maritime neighbor in the Indian Ocean Region (IOR) and its special place in Prime Minister’s vision of ‘SAGAR’ (Security and Growth for All in the Region) and India’s ‘Neighborhood First Policy.’

The MEA stated, “The visit of President Muizzu to India after the recent visit of the External Affairs Minister to the Maldives is testimony to the importance that India attaches to its relations with the Maldives and is expected to lend further momentum to cooperation and robust people-to-people ties between the two countries.”