Maldives seeks to restructure China debt after years of heavy borrowing | Malay Mail

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COLOMBO, Dec 11 — The Maldives is seeking a “diplomatic” solution to restructure its Chinese debt as the small but strategically located atoll nation struggles with repayments, the foreign ministry has said. Former strongman president Abdulla Yameen relied heavily on Beijing to provide...

Wednesday, 11 Dec 2019 11:31 PM MYT

Former strongman president Abdulla Yameen relied heavily on Beijing to provide financial support during his five year term and his successor’s party has accused China of a land grab in the country. The pro-Beijing Yameen was jailed last month for five years and fined US$5 million for corruption during his term that ended late last year.

The former Sri Lankan government handed over control of the Hambantota port in the south of the island to a Chinese company on a 99-year lease in December 2017.

 

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