New Delhi: With International Monetary Fund Announced a loan of about USD 2.9 billion to Sri LankaIndia on Thursday said it is advocating for aid to the beleaguered country and underlined that issues of “creditor equality and transparency” are important.
The IMF announced on Thursday that it will provide about USD 2.9 billion in loans to Sri Lanka over four years as part of a preliminary agreement to help the bankrupt island nation deal with its worst economic crisis and protect people’s livelihoods. .
Sri Lanka is going through its worst economic crisis since its independence in 1948, which was triggered by a severe shortage of foreign exchange reserves.
Asked about development foreign Ministry Spokesperson Arindam gardener Said, “We have seen press releases by the IMF regarding the staff-level agreement … Objectives include restoration of macroeconomic stability, debt stability, protecting vulnerable people, advancing structural reforms,” the IMF release said. Is.”
“We also understand that there is a need to pursue this process for subsequent approval within the IMF itself. It is still a situation which is an emerging situation. is advocating, but let’s see how it progresses. The issues of creditor equality and transparency are important,” he told reporters.
To another question whether Sri Lanka is allowing a Chinese “spy ship” to act provocatively, Bagchi said, “I’m not sure we see the circumstances that way.”
He said that India has given assistance of about four billion dollars to Sri Lanka in various forms.
“We have also made our comments on the other issues you mentioned. I would like to reiterate that if there are any incidents that affect our security, we keep a close watch on that and take necessary measures to keep it safe. But that is a different element from what our relationship with Sri Lanka is,” he said.
The IMF said in its statement, “Sri Lankan officials and International Monetary Fund The team has reached a staff-level agreement to support executives’ economic adjustment and reform policies with the new 48-month Extended Funds facility (flights) almost . with the requested access of SDR 2.2 billion (equivalent to USD 2.9 billion).”
The new EFF arrangement will support Sri Lanka’s program to restore macroeconomic stability and debt stability while protecting financial stability, reducing vulnerabilities to corruption and unlocking the country’s growth potential.
The IMF announced on Thursday that it will provide about USD 2.9 billion in loans to Sri Lanka over four years as part of a preliminary agreement to help the bankrupt island nation deal with its worst economic crisis and protect people’s livelihoods. .
Sri Lanka is going through its worst economic crisis since its independence in 1948, which was triggered by a severe shortage of foreign exchange reserves.
Asked about development foreign Ministry Spokesperson Arindam gardener Said, “We have seen press releases by the IMF regarding the staff-level agreement … Objectives include restoration of macroeconomic stability, debt stability, protecting vulnerable people, advancing structural reforms,” the IMF release said. Is.”
“We also understand that there is a need to pursue this process for subsequent approval within the IMF itself. It is still a situation which is an emerging situation. is advocating, but let’s see how it progresses. The issues of creditor equality and transparency are important,” he told reporters.
To another question whether Sri Lanka is allowing a Chinese “spy ship” to act provocatively, Bagchi said, “I’m not sure we see the circumstances that way.”
He said that India has given assistance of about four billion dollars to Sri Lanka in various forms.
“We have also made our comments on the other issues you mentioned. I would like to reiterate that if there are any incidents that affect our security, we keep a close watch on that and take necessary measures to keep it safe. But that is a different element from what our relationship with Sri Lanka is,” he said.
The IMF said in its statement, “Sri Lankan officials and International Monetary Fund The team has reached a staff-level agreement to support executives’ economic adjustment and reform policies with the new 48-month Extended Funds facility (flights) almost . with the requested access of SDR 2.2 billion (equivalent to USD 2.9 billion).”
The new EFF arrangement will support Sri Lanka’s program to restore macroeconomic stability and debt stability while protecting financial stability, reducing vulnerabilities to corruption and unlocking the country’s growth potential.