- Maldives – one of the first south Asian countries to join China’s BRI.
- IMF – the country’s economy in a “debt distress” situation.
- IMF – the country remains at “high risk of external and overall debt distress”.
- Debt distress means – the country needs debt restructuring.
- Why? Maldives not able to meet its external financial obligations.
- Reason? Chinese debt for construction projects in Maldives.
- Loaned and constructed by China only.
- Maldives’s GDP(constant 2015 US$) – 5.78 billon (2022). The World Bank.
- Maldives’s GDP(current US$) – 6.17 billon (2022). The World Bank.
- External debt stocks, long-term (DOD, current US$) – 3.48 billion (2022). The World Bank.
- External debt stocks, total (DOD, current US$) – 3.99 billion (2022). The World Bank.
- GDP – current prices – US$7.2 billion. IMF.
- US$1.37 billion – Chinese loan to Maldives = 40% of Maldives external debt.
- General government gross debt – percent of GDP – 121.1%. IMF.
- Current account balance – percent of GDP – -19.4%. IMF.
- Current account balance U.S. dollars – US$1.394 billions (2024). IMF.
- Statista’s projection of Maldives’ national debt US$ billion: 2024 (8.7) | 2025 (9.36) | 2026 (9.87) | 2027 (10.31) | 2028 (10.73) | 2029 (11.12).
