Maldives and India Pledge to Boost Strategic Cooperation

• Maldives' President Mohamed Muizzu and Indian PM Narendra Modi held talks, promising to strengthen strategic cooperation.
• India approved a $400 million and a 30 billion rupee currency swap agreement to aid Maldives' economic recovery.
• India and Maldives will start talks on a free trade agreement, aiming for stability and progress in the Indian Ocean region.
• Much of Maldives' debt is owed to China and India, with fears of default following a hit to the tourism industry by COVID-19.
• Despite initial tensions, relations between Maldives and India are improving, with India being a key partner in Maldives' development.

Source: Reuters