No Official Notification Received on Delay in Chinese Loan Repayment, Says MMA

The Maldives Monetary Authority (MMA) has stated that it is yet to receive official confirmation regarding any delay in the repayment of loans acquired from China.

During an inquiry session with members of Parliament at the Parliament’s Public Accounts Committee, MMA Deputy Governor Imad Ahmed clarified that the authority has not been formally notified of any plans to restructure Chinese loans.

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“We have not yet received any official communication regarding the restructuring of loans from China,” stated Imad.

President Dr. Mohamed Muizzu, who returned to the Maldives on January 13 following an official visit to China, informed reporters at the VIP lounge of Velana International Airport that measures were being taken to facilitate the repayment of Chinese loans.

According to President Muizzu, discussions at the highest levels between the two nations focused on adjusting the current repayment schedule for Chinese loans.

“After conveying our intentions to the Chinese President, he promptly instructed relevant officials during official discussions to dispatch a technical team to the Maldives in order to facilitate the repayment of loans owed to China over the next five years,” President Muizzu explained.

He further indicated plans to dispatch a financial team to explore strategies for repaying the loans within a five-year timeframe, emphasizing that the matter had been resolved and would alleviate the burden of loan repayment.

The government’s efforts to ease the repayment of Chinese loans come amidst ongoing economic considerations and negotiations between the Maldives and China.