PM Modi became the trouble-shooter of Maldives, India opened treasury to save Muizzu government from sinking, released 30 billion rupees

News India Live, Digital Desk: Maldives President Mohammed Muizzu, who came to power with the slogan of ‘India Out’, has finally had to take refuge in India. Amidst the deepening economic crisis in Maldives and severe shortage of foreign exchange reserves, the Indian government has taken a big and generous decision. New Delhi has approved the withdrawal of Rs 30 billion (about 358 million dollars) under the ‘SAARC Swap Framework’, giving a big relief to the Muizzu government of Maldives. This step of India is being seen as the last attempt to save Maldives from bankruptcy. The threat of defaulter was looming over the Muizzu government. The economic situation of Maldives had remained very delicate for the last few months. Burdened by the decline in tourism and foreign debt, Maldives did not have dollars left even to meet its basic needs. International rating agencies had warned of putting Maldives in the ‘default’ category. In such a situation, when China and other countries withdrew their hands, India has provided this lifeline to the Muizzu government by introducing the ‘Neighbor First’ policy. This financial assistance given through the Reserve Bank of India (RBI) will be provided to Maldives in two installments. Under this, the Central Bank of Maldives will be able to meet its immediate foreign exchange needs. Experts say that this is not just economic help, but a strong diplomatic message from India towards the people of Maldives. Maldives will use this amount to clear its international payments and import bills, so that there will be no shortage of essential commodities. China’s manipulation and India’s ‘big brother’ role. President Muizzu had shown inclination towards China as soon as he took charge and demanded the withdrawal of Indian troops. However, when the economic crisis hit, the help from China was not as expected. India has once again proved that it is the only true and trustworthy neighbor in difficult times. After this help, criticism of Muizzu’s anti-India policies has intensified even within Maldives and respect for India has increased. Signs of melting of ‘ice’ in relations? After this huge financial help from India, experts believe that the ice in diplomatic relations between New Delhi and Male may melt. In recent times, the tone of Maldivian ministers and President Muizzu himself has become soft towards India. This Rs 30 billion aid has not only given oxygen to the economy of Maldives but also re-established India’s influence in South Asia.