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Saturday, February 4, 2023

‘No exaggeration…’: Sri Lanka praises India for aiding in ‘regaining stability’

World News‘No exaggeration…’: Sri Lanka praises India for aiding in ‘regaining stability’

India’s financial assistance of about $4 billion in the form of a line of credit for the import of essential commodities has given some stability to the country. Sri Lanka Foreign Minister Ali Sabri said this in the midst of Union Foreign Minister S Jaishankar’s two-day visit to the country. They discussed issues related to mutual and regional interests.

“It is no exaggeration to say that we were able to regain some measure of financial stability, due to India’s strong support of a credit line worth US$ 4 billion for imports of essential commodities. Heartfelt thanks to M Modi,” Sabri was quoted as saying by news agency ANI.

Read on India backs Sri Lanka’s debt restructuring plan, writes to IMF: Report

Jaishankar met the top leadership in Sri Lanka, including President Ranil Wickremesinghe, after visiting the Maldives as part of his two-nation tour. With Sabri, the Union Minister discussed bilateral relations, people-to-people contacts, trade and investment relations between the two countries.

“Had a good meeting with Foreign Minister Ali Sabri and other ministerial colleagues in Colombo this evening. Discussed India-Sri Lanka cooperation in infrastructure, connectivity, energy, industry and health,” Jaishankar tweeted.

A meeting between Jaishankar and Sri Lankan Prime Minister Dinesh Gunawardene is also scheduled.

Sri Lanka is reeling from an economic crisis, giving India an opportunity to show concern towards its southern neighbour. India came forward with a financial assistance of $4 million when Sri Lanka was struggling with crisis. Union Finance Ministry Additional Secretary Rajat Kumar Mishra on Tuesday informed International Monetary Fund (IMF) President Kristalina Georgieva about India’s support to Sri Lanka.

Read on Sri Lanka to cut budget spending by 6 percent in 2023 amid economic crisis

President Wickremesinghe had earlier said that his government had “successfully” concluded talks with India on debt restructuring.

“Sri Lanka is a close friend and neighbour, and India has always stood by the Sri Lankan people,” the Union Ministry of External Affairs earlier said.

(With input from PTI, ANI)


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