Chinese Ambassador to Maldives Zhang Lizhong has stated that the total debt of Maldives to China will be 1.529 billion dollars when all the projects that are being conducted with Chinese loans are completed in the Maldives.
The Chinese ambassador made this statement after former President and speaker of the parliament Nasheed claimed that the debt of Maldives to China is 4.2 billion dollars.
In addition the ambassador pointed out that according to MMA’s records the total debt of Maldives is 3.21 billion dollars and asked how Nasheed came up with 4.2 billion dollars.
The ambassador said that the value of the concessional loans from China to Maldives is 872 million dollars and that China issued 657 million dollars as preferential loans. Hence the total amount is 1.529 billion dollars. The ambassador gave further details of the loans and projects conducted in the Maldives by China.
