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Mumbai: The Economic Times newspaper on Saturday quoted officials as saying that India is working on an immediate aid package to help Sri Lanka get out of the economic crisis.
Officials said the measures would cover areas including food and health security, energy security and currency exchange. The paper said that this step has been taken after the recent visit of the Sri Lankan Finance Minister to India. The plan is to extend the credit line to Sri Lanka for import of food, medicine, fuel and other essential commodities from India.
Sri Lanka faces potential defaults amid dwindling foreign exchange reserves, even as its central bank governor said he was confident the government would service all of its foreign debt. It is trying to revive its Covid-hit tourism industry with the reopening of borders after an extended pandemic lockdown, and is hoping to increase remittance flows as more Sri Lankans head abroad to seek employment. Is.
ET quoted a statement from the Sri Lankan government as saying that the two countries have “identified ways and means through which the existing bilateral economic ties between the two countries can be further broadened and deepened.” ,bloomberg
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