India's Assurance Over Lanka Economic Recovery As Minister Visits Colombo
NDTV
India has informed the IMF its assurance which the global lender wants from creditors for providing a bailout to Sri Lanka.
External Affairs Minister S Jaishankar on Thursday met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery. "Look forward to my discussions with the leadership tomorrow morning," Mr Jaishankar tweeted after he held talks with his Sri Lankan counterpart Ali Sabry soon after his arrival in Colombo, as India informed the IMF its assurance which the global lender wants from creditors for providing a much-needed bailout to the cash-strapped island nation.
Sri Lanka, which is trying to secure a $2.9 billion bridge loan from the International Monetary Fund (IMF), was negotiating to get financial assurances from its major creditors - China, Japan and India - which is the requisite for Colombo to get the bailout package.
The IMF bailout has been put on a halt as Sri Lanka pursues talks with creditors to meet the global lender's condition for the facility.
"Conveyed our commitment to increase investment flows to Sri Lanka to hasten its economic recovery," Mr Jaishankar tweeted after his meetings, including with President Ranil Wickremesinghe.
