Vantage | Why Maldives economy must be Muizzu's priority not 'India out' politics

In the midst of economic challenges and looming debt obligations, Maldives faces a new challenge closer to home: the incoming President Mohamed Muizzu who is adamant about India’s military presence in the country. Muizzu’s campaign plank was “India out” and his determination to see it through has raised diplomatic concerns.

Muizzu’s pledge and diplomatic fallout Ever since winning the election, Muizzu has repeatedly expressed his desire to remove the Indian military from the Maldives. “I will be holding frank and detailed diplomatic consultations with India to work out details of sending back military personnel from the Maldives as soon as possible. The focus is not on the actual number of military personnel here, it is on not having any at all in the Maldives. We will discuss with the Indian government and find out a way forward for this,” said Madives President-elect Muizzu. Muizzu is set to take office on the 17 November with his first overseas trip as president scheduled for India, a tradition in Maldivian politics that even anti-India leaders like Yameen have upheld. Understanding India’s military presence The Indian military presence in the Maldives is not new with approximately 75 military personnel stationed there as a support group to assist the Maldivian military. These personnel, including military engineers, trainers and pilots, have played a crucial role in aiding their Maldivian counterparts. India has also shared military hardware with the Maldives including two helicopters and a Dornier aircraft. These assets have been instrumental in various operations from ferrying goods and people to maritime surveillance. It’s essential to note that these Indian military personnel and assets operate under the control of the Maldives National Defence Force and their presence is primarily to enhance Maldivian security. Additionally, India financially supports the maintenance of these assets. Economic challenges and debt Maldives is grappling with pressing economic challenges particularly its ballooning foreign debt. The nation’s $5.4 billion economy is expected to service a record $1.07 billion in external debt by 2026, a significant burden considering the country’s GDP. The World Bank issued a warning regarding the Maldives’ mounting debt obligations and ratings agencies such as Fitch Ratings, have raised concerns about the nation’s high debt burden, rising debt and low reserves. Malé’s foreign reserves stand at around $700 million, but usable reserves are only estimated at $168.1 million, barely enough to cover two and a half months of imports in the import-dependent nation. Muizzu’s focus on diplomacy over economy Despite these economic challenges and the risk of default, President-elect Muizzu remains determined to prioritise the removal of India’s military presence over addressing the economic issues at hand. His decision is seen by many as motivated by political considerations rather than strategic necessity. In this complex geopolitical and economic landscape, Muizzu’s approach to India and the Indian military’s presence raises diplomatic concerns and leaves questions about how he plans to manage the economic challenges facing the Maldives. His determination to settle scores with India instead of focussing on keeping the nation’s economy afloat adds uncertainty to the Maldives’ future. Views expressed in the above piece are personal and solely that of the author. They do not necessarily reflect Firstpost’s views. Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.