Current Affairs - International - Discussion

India approved a ₹30 billion currency swap facility to the Maldives under the SAARC Currency Swap Framework for 2024–2027. This financial support, provided through the INR Swap Window, aims to help the Maldives manage its balance-of-payment pressures and maintain economic stability. The arrangement is implemented between the Reserve Bank of India and the Maldives Monetary Authority. It also reflects India’s ‘Neighbourhood First’ policy and Vision MAHASAGAR, emphasising regional cooperation. Over the years, India has extended significant financial assistance to the Maldives, including previous swap facilities, reinforcing strong bilateral economic and strategic ties.