Sri Lanka is dealing with its worst financial disaster in seven a long time, with a extreme overseas trade scarcity hampering the import of necessities, together with meals, gasoline and medicines.
The island nation off the tip of southern India wants about $5 billion within the subsequent six months to cowl primary requirements for its 22 million individuals, who’ve been fighting lengthy queues for primary objects, worsening shortages and energy cuts.
Indian overseas secretary Vinay Kwatra, accompanied by different Indian officers, held talks with President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe on offering additional monetary help to the nation, the president’s workplace mentioned in an announcement.
“Indian overseas secretary Vinay Kwatra has mentioned that the federal government of India will prolong its fullest assist to Sri Lanka in overcoming the present tough scenario as an in depth good friend,” the assertion mentioned.
“The Indian delegation acknowledged that the federal government of India and the political authorities are dedicated to offer continued assist to Sri Lanka,” it added.
The Indian group held a separate assembly with Wickremesinghe, the central financial institution governor and finance ministry officers, an official from the prime minister’s workplace mentioned.
India has been the principal supply of overseas help to Sri Lanka this yr, supplying greater than $4 billion, Wickremesinghe advised parliament this week.
The neighbours are additionally in talks for added assist together with a $500 million credit score line for gasoline and assist with importing fertilizer and rice as Sri Lanka makes an attempt to stave off a meals disaster, officers mentioned.
Sri Lanka plans to carry a donor convention with China, India and Japan, Wickremesinghe mentioned, because it continues talks with the Worldwide Financial Fund for a bailout package deal of about $3 billion.
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