The Government of Maldives has welcomed India’s decision to roll over the first Indian rupee 30 billion withdrawal under the bilateral currency swap agreement between the Reserve Bank of India and the Maldives Monetary Authority, describing the development as a reflection of the strong and enduring partnership between the two neighbouring countries.
The currency swap arrangement provides important financial support to the Maldives by strengthening access to liquidity and supporting broader economic and financial stability. The rollover of the INR 30 billion withdrawal further demonstrates the continued cooperation between the monetary authorities of both countries and India’s support for the Maldives during an important period of economic development and fiscal strengthening.
In a statement, the Maldivian government expressed its appreciation to the Government of India for its continued assistance, noting that the decision reflects the longstanding relationship between Maldives and India, founded on historic ties of friendship, mutual respect and goodwill.
Under the leadership of President Dr Mohamed Muizzu, the Maldives has continued to strengthen engagement with key bilateral partners while expanding cooperation in areas of shared interest. The government has reaffirmed that India remains an important development and regional partner, with bilateral cooperation covering economic development, infrastructure, financial assistance, trade, security and people-to-people relations.
The Maldivian government also acknowledged India’s continued support under Prime Minister Narendra Modi’s Neighbourhood First policy and reaffirmed its commitment to further strengthening relations between the two countries for their mutual benefit.
The latest financial cooperation adds to the broader engagement between Maldives and India and reflects the government’s continued efforts to strengthen international partnerships, enhance economic resilience and secure supportive financial arrangements that contribute to the country’s long-term development and stability.
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