Sri Lanka Economic Crisis India Help With Emergency Fund Speaker Mahinda Yapa Abeywardena Praise Says Stop Bloodbath
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On supporting Sri Lanka in such a situation, Abewardene described India as a reliable friend, with the help of which the bloodshed in the country was stopped. He said, ‘I would like to tell that during the trouble that came upon us last year, India saved us. Otherwise there would have been another massacre for all of us. This is how India came to our aid and even today I heard that India is ready to extend the restructuring of our debts by 12 years, which is totally unexpected. Never before has any single country given such assistance.
what did india say
India has reaffirmed its willingness to play a ‘constructive role’ in supporting Sri Lanka’s efforts to overcome its biggest economic crisis. Addressing the opening ceremony of the Construction, Power and Energy Expo 2023 in Colombo, India’s Deputy High Commissioner Vinod K Jacob said on Friday that the recently deepened ties between India and Sri Lanka strengthened the friendship and all-round cooperation between the two countries. Is.
“We were the first country to give assurances to Sri Lanka regarding the necessary funding to initiate the IMF (International Monetary Fund) loan process in January this year. India will continue to play a constructive role as co-chair of the Creditor Committee with Japan and the Paris Club.
Biggest crisis after 1948
India was the first country to submit its letter of support to the International Monetary Fund for financing and debt restructuring of Sri Lanka in January this year.
Jacob said that India’s financial and humanitarian assistance of US $ 4 billion to Sri Lanka is more than the total anticipated Extended Fund Facility of the IMF. Sri Lanka will be hit by a financial crisis in 2022 due to a severe shortage of foreign exchange, causing the island nation’s biggest economic crisis since independence from British rule in 1948.
(with agency inputs)
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