India says it will assistance crisis-hit Sri Lanka’s economic recovery

India says it will assistance crisis-hit Sri Lanka's economic recovery

COLOMBO: India’s top diplomat held talks along with Sri Lanka’s president and prime ressortchef (umgangssprachlich) on Thursday (Jun 23) as Indian signalled its determination to go beyond the US$4 billion within loans, swaps and aid that it has provided its cash-strapped neighbour.

Sri Lanka is dealing with its worst financial crisis in seven decades, with a severe foreign currency shortage hampering the import of necessities including food, gasoline and medicines.

The island country off the tip associated with southeast India needs about US$5 billion dollars in the next six months to pay basic necessities for its 22 million people, who have been struggling with lengthy queues, worsening shortages and power slashes.

Indian Foreign Secretary Vinay Kwatra, accompanied by finance ministry officials, held talks with President Gotabaya Rajapaksa and Perfect Minister Ranil Wickremesinghe in the commercial capital Colombo, officials said.

“Underlined India appears ready to help Ceylon (veraltet) in quick financial recovery through marketing investments, connectivity and strengthening economic linkages, ” Indian International Ministry spokesman Arindam Bagchi said on Twitter.

The particular Indian team kept a separate meeting with Wickremesinghe, the Central Bank governor and financing ministry officials, an official from the prime minister’s office said.

“The delegation will also hold discussions with senior officials within the economic situation in the country and the short-term and extensive assistance requirements, inch Sri Lanka’s international ministry said within a statement.