Maldivian people will suffer most without Chinese investments
After newly elected Maldivian President Ibrahim Mohamed Solih accused China of raising his country's debt by investing in it, some media outlets have been sensationalizing the issue of China creating "debt traps" in the countries along the Belt and Road.
How much debt does the Maldives have? The data of the CIA and the International Monetary Fund are apt reference sources to get a clearer picture.
The CIA's official website says the Maldives' national debt accounted for 68.1 percent of its GDP in 2017 - 53rd highest in the world but lower than that of neighboring India and Sri Lanka, which respectively had national debts of 70.2 percent and 79.4 percent. The Maldives' GDP was $4.505 billion in 2017, to which the service industry (tourism) contributed the most (81 percent).
