India Offers Sri Lanka $200 Million More In Credit For Fuel: Power Minister
NDTV
Sri Lanka Economic Crisis: Sri Lanka is currently in the throes of an unprecedented economic turmoil since its independence from Britain in 1948.
India has extended its current credit line by a further USD 200 million to replenish Sri Lanka's rapidly depleting fuel stocks, Power and Energy Minister Kanchana Wijesekera said on Monday.
Sri Lanka is currently in the throes of an unprecedented economic turmoil since its independence from Britain in 1948.
The crisis is caused in part by a lack of foreign currency, which has meant that the country cannot afford to pay for imports of staple foods and fuel, leading to acute shortages and very high prices.
"India has already given an additional USD 200 million which will be used for another 4 shipments (in May). Apart from this we are also in discussion with India for another USD 500 million credit line, but this is not finalised yet," Wijesekara told reporters.
