Maldives goes bankrupt? Deets inside

Maldives has declared bankruptcy and sought a bailout from the International Monetary Fund (IMF), according to the sources. The official statement on this is yet awaited.

There are several social media posts have been circulating after tensions between Maldives and India since Prime Minister Narendra Modi visited Lakshadweep and President Mohammed Muizzu's culminated ‘India Out’ campaign. 

Though Maldives has been facing real economic challenges, including high debt and dependence on tourism. However, declaring bankruptcy is a serious legal procedure that requires specific steps, none of which have been reported so far.

Tourism affected badly after the incident

The island nation, which depends heavily on its tourism sector, was dealt a severe blow when a Maldivian minister (who is currently suspended) and other officials made disparaging comments about Prime Minister Narendra Modi on social media and claimed that India would find it difficult to compete with the nation in beach tourism.

The government and people in India were offended by the remarks made about India and Prime Minister Modi. A boycott of the Maldives was demanded by people from all spheres of society. In the midst of the boycott demand, Virender Sehwag, Akshay Kumar, and other celebrities advocated Indian tourism destinations, particularly Lakshadweep.