With rigorous economic research and practical policy solutions, we focus on the issues and institutions that are critical to global development. Explore our core themes and topics to learn more about our work.
In timely and incisive analysis, our experts parse the latest development news and devise practical solutions to new and emerging challenges. Our events convene the top thinkers and doers in global development.
Maldives trapped in Chinese debts ahead of polls (The Asian Age)
September 20, 2018
By Shumona Sharmin Sharna
From the article:
The Maldivians are going to cast their ballots on 23rd September (Sunday) in the next general election of Maldives. Maldives is most likely to get under financial pressure if President Abdulla Yameen wins the polls because of some infrastructural projects in Maldives which are funded by Chinese debts. Maldives got much closer to China during the tenure of President Abdulla Yameen. China has financed roads, bridges and some other construction works in Maldives through loan-based contracts between Chinese and Maldivian sides.
Foreign affairs experts have said that Maldives is already trapped in Chinese debts ahead of the upcoming election. It goes without saying that China's Belt and Road Initiative (BRI) has meanwhile endangered some other countries with loans on stern terms and conditions.
Center for Global Development, an American institution has said that Maldives is very much at risk with China's Belt and Road Initiative. According to Center for Global Development (CGD), China's loans to Maldives have amounted to 1.3 billion USD which is higher than one quarter of Maldives' annual gross domestic product (GDP).