New Delhi, Jan 31 (PTI) As the Maldives faces a looming economic crisis, India on Friday said it is in close touch with the island nation regarding the situation.

The economy of the Maldives is reeling under increasing pressure, largely because of debt distress.

"We remain in close touch with Maldivian authorities on the situation facing them," Ministry of External Affairs spokesperson Randhir Jaiswal said.

He was responding to a question at his weekly media briefing.

Jaiswal also referred to some recent agreements signed by the Maldivian government, saying they are likely to result in revenue loss and that it is a matter of concern.

"We would, obviously, need to take that into account while framing our own policies," he said.

To a separate question on the upcoming talks between the Border Security Force (BSF) and the Border Guards Bangladesh (BGB), Jaiswal said India expects all mutually-agreed agreements to be honoured.

The director general-level talks between the BSF and the BGB are scheduled from February 17 to February 20 in New Delhi.

"We expect all mutually-agreed MoUs and agreements to be honoured. These form the basis for structured engagements between the border-guarding forces and facilitate the creation of mutually-beneficial security and trade infrastructure along the border," Jaiswal said. PTI MPB RC

Mutually-agreed agreements must be honoured, guiding diplomatic and security engagement and policy responses. India is in close diplomatic contact with Maldivian authorities over an economic crisis caused by debt distress, expressing concern that recent Maldivian agreements may result in revenue loss and stating those fiscal effects will be taken into account when framing Indian policy; India also stresses that mutually-agreed MoUs and agreements between border forces must be honoured as the basis for structured security and trade infrastructure and forthcoming director-general level talks are expected to reinforce that principle.