The Maldives’ speaker Mohammad Nasheed on Friday came down heavily on the Chinese banks for not deferring the country’s loan installments at a time when the Maldives is facing the biggest ever downfall in its economy. 

“Over the next 14 days, Maldives Treasury must pay over $15 million to Chinese banks...These repayments represent 50 % of [the] government’s income over [the] next 14 days,” he said in a tweet. 

“These banks haven’t, thus far, given any concession for these loans...After Covid, Maldives needs breathing space,” Nasheed hit out at Chinese banks seemingly in the harshest tone he had ever adopted in recent times. 

Nasheed is a known critic of Chinese loans ever since it had started pouring in during the reign of former President Abdullah Yameen. As the Maldives tourism-reliant economy crippled in the aftermath of the COVID-19 pandemic, Nasheed has been advocating for deferment of loan repayments. 

Significantly, the statement comes a day after the Maldives and China held a bilateral consultation at the level of director-general.