India's aid is a temporary solution to the reserves: Speaker Nasheed

30 Nov 2022 | 00:12
Nasheed meeting PM of India

Speaker of Parliament Mohamed Nasheed has said that India's assistance is a temporary solution to foreign exchange reserves.

Nasheed made the remarks via Twitter after the Indian government handed a USD 100 million loan cheque to the Maldivian government as budgetary support. 

According to Nasheed, the Indian government's USD 100 million loans as budgetary support to the Maldives was a major help at the moment.

This is a temporary solution to the existing foreign exchange reserves,

Said Nasheed

Nasheed tweet

The Ministry of Foreign Affairs stated that USD 100 financial assistance will be provided by the State Bank of India through investment in a treasury bond of the government.

Previously, India has multiple financial loans to the Maldives in the form of budgetary support.