MALE -- When the Maldives' President-elect Mohamed Muizzu takes office on Nov. 17, he will immediately face a rising tide of warnings on the risk of a debt crisis in the Indian Ocean archipelago.
The World Bank was among the latest to sound the alarm over the South Asian nation's ballooning foreign debt payments. Barely a week after Muizzu won the Sept. 30 presidential runoff against incumbent President Ibrahim Mohamed Solih, the bank pointed out that by 2026, the $5.4 billion Maldivian economy will have to service a record $1.07 billion in external debt.
