Indian envoy calls on Sri Lankan Prime Minister Ranil Wickremesinghe

India has committed more than $3 billion to debt-ridden Sri Lanka in loans, credit lines, and credit swaps since January 2022

The Indian High Commissioner Gopal Baglay on May 13 became the first foreign envoy to call on the new Sri Lankan Prime Minister Ranil Wickremesinghe and discussed with him the current situation in the country amid the worst economic crisis, according to sources.

Mr. Wickremesinghe, 73, was sworn in as Sri Lanka's 26th Prime Minister on May 12 to stabilise the country's debt-ridden economy and end the political turmoil.

Mr. Baglay visited Mr. Wickremesinghe immediately after the latter assumed duties in his office on Friday, Prime Minister’s office sources said.

They discussed the current situation in the country amid the ongoing economic crisis, the worst since the country gained independence in 1948.

India’s economic assistance package since January had kept Sri Lanka afloat in its worst economic crisis since independence. India provided credit lines for the purchase of fuel and essentials as Sri Lanka’s foreign reserves depleted.

India has committed more than $3 billion to debt-ridden Sri Lanka in loans, credit lines, and credit swaps since January 2022.

In mid-April Sri Lanka declared its insolvency by announcing its inability to meet foreign debt commitments.