"The government of Sri Lanka has granted a $10m (£6.1m) import credit to the Republic of Maldives.
Analysts say the agreement signed in Colombo on Thursday during a visit to the island by President of Maldives, Mohammed Nasheed, is mutually beneficial to both countries.
The Maldives archipelago which mainly relies on the tourism industry is currently facing a foreign exchange crisis, according to Amal Jayasinghe, the AFP bureau chief in Colombo.
"Maldives is among few countries in the world that does not collect any income tax," he told BBC Sinhala service.
"It is therefore struggling to balance the government
- spending sheets.""
Maldives President working underwater to get US middle class cash for his allegedly sinking island near India.
11/2/2009, from the NY Times: "Last month, the cabinet of Maldives donned scuba gear and held an underwater meeting to highlight the threat of global warming to that nation, the world’s lowest." (last item in article)
(The NY Times has proven itself "unsustainable," and therefore, according to its own philosophy, is selfish, greedy and using up more than its share of the global commons. It survives today thanks to a bailout from Lebanese-Mexican billionaire, Carlos Slim).
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