Male’, Maldives – Chinese Ambassador to Maldives, Zhang Lizhong has stated that discussions are ongoing for moratoriums for the commercial loans taken during the last government in a video message posted on Twitter.
my thoughts on the debt issue (part I/3)
— Amb. Zhang Lizhong (@AmbassadorZhang) September 20, 2020
He said that the Chinese government understands the difficulties being faced by the Maldivian government due to the Covid-19 pandemic and that consideration has been given to the Maldivian government and that through the G20 dept suspension initiative, China has already implemented the sovereign loans repayment suspension.
He mentioned that all loan borrowers are State Owned Enterprises (SOE) and except for one private company. He highlighted the increased discussions and concerns of the Maldivian public regarding the debts and mentioned that the relevant authorities on both sides have handled the issues in accordance to the agreements in a very professional manner.
The videos on Twitter by the ambassador comes after another public statement by the Former President and Speaker of Parliament Mohamed Nasheed, who has been very vocal against the Chinese loans taken by the former government and has labeled it as a “debt trap tactic” for the Maldivians.