Possible precedent: Fears over indebted Maldives

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The Maldives, known here primarily as a holiday paradise and because of the threat posed by climate change, are currently also the focus of the financial markets. They are waiting with bated breath to see whether the country with almost 1,200 coral islands will manage to avoid insolvency. The share price recovered by Friday after the central bank gave the all-clear. But nervousness remains high: a default would have potentially dangerous consequ…