One more neighbor of India has fallen into the debt trap of China, will it be like Sri Lanka?

New Delhi, Thursday 17 September 2020

China is trapping one Asian country after another in its debt trap and those countries are unable to repay the debt so they have to take control of their important territories and ports to repay the debt, just like Sri Lanka's Habbantota port has been acquired by China. Fear is also looming over the Maldives, which is also burdened by China's unbearable debt, with a general estimate that the Maldives will have to repay લો 3.1 billion in Chinese loans. And that's a total economy of 4. 4.9 billion.

According to a report, Abdullah Yameen, who came to power in the Maldives in 2013, was closer to China, borrowed heavily from China to boost the Maldivian economy, and imprisoned many opposition leaders, including former President Mohammed Nasheed, who was linked to China. Gaya and the Maldives Democratic Party won, Ibrahim Solih became the new president, then Nasheed returned to politics for the second time, and he was shocked when the government in power saw the reckoning.

According to former Maldivian President and Speaker Nasheed, China owed the country 3. 3.1 billion, a debt owed to the government, government companies as well as private companies, guaranteed by the Maldivian government. Nasheed is now worried that his country is in debt. Trapped, he said the debt on paper is actually more than the amount received. If government revenue declines, it will be difficult to repay loans by 2022-23. And he feared that if his country defaulted, his situation could be similar to that of Sri Lanka.