As Sri Lanka enters discussions with the International Monetary Fund, India has offered its support by calling on the IMF to “urgently provide financial assistance”.
In meetings with the IMF Managing Director Kristalina Georgieva, India’s Finance Minister, Nirmala Sitharaman, spoke on the need to assist Sri Lanka as the country grapples with its worst economic crisis since independence. Sri Lanka has sought $4 billion in multilateral assistance since its on $51 billion of debt.
“The IMF MD particularly brought reference to the help India is providing to Sri Lanka during their economic crisis. Smt Sitharaman indicated that the IMF should support and urgently provide financial assistance to Sri Lanka. The MD assured the FM that the IMF would continue to actively engage with Sri Lanka” read a statement by India’s Finance Ministry.
In meetings with Sri Lanka’s Finance Minister, Ali Sabry, Sitharaman further extended her support. On Twitter India’s Finance ministry stated:
Union Finance Minister Smt. @nsitharaman assured Sri Lanka that as a close friend and good neighbour, India will try to extend all possible cooperation and assistance to Sri Lanka. (2/2)
— Ministry of Finance (@FinMinIndia) April 18, 2022
India’s support comes as it seeks to displace Chinese influence in the region and expand on development projects across the North-East.
Read more here: India offers aid whilst China remains silent on Sri Lanka
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