President Dr. Mohamed Muizzu has expressed confidence that India will fully support efforts to improve the financial situation in the Maldives.

The Maldives' foreign exchange reserves have dropped to USD 440 million, an amount sufficient to cover just one and a half months of imports.

In an interview with the BBC before departing for India today, President Dr Muizzu said he is confident that India will provide assistance as the Maldives faces an economic crisis.

He added, "India is very familiar with our financial situation, and as a major development partner, we can rely on them to help ease our burden and find solutions to the challenges we face," President Dr Muizzu said in an email interview with the BBC.

When asked about his previous "India Out" campaign before assuming office, President Dr Muizzu explained that any differences between the Maldives and India can be resolved through dialogue.

Last month, Moody's, the global credit rating agency, downgraded the Maldives' credit rating, warning that the "default risk is materially high."

However, President Dr Muizzu reassured the BBC that the Maldives is not facing a sovereign debt default and does not intend to participate in a program with the International Monetary Fund (IMF). "We have our own agenda," he stated.

The President is currently on an official visit to India at the invitation of President Droupadi Murmu and is expected to return to the Maldives on Thursday.

During the visit, President Dr Muizzu will engage in talks with President Murmu, Prime Minister Narendra Modi, and other senior Indian officials to discuss ways to further strengthen bilateral relations.

This marks President Muizzu’s second official visit to India.