Sunday, Jul 03, 2022

Sri Lanka Assured Total Support For Its Economic Recovery By Nirmala Sitharaman

In light of the economic crisis in Sri Lanka, Indian Finance Minister Nirmala Sitharaman has claimed to extend full support to restore the economic stability in the island country.

Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has assured Sri Lanka of her "fullest support" and cooperation for its recovery from the ongoing economic crisis. Sitharaman conveyed the assurance to Sri Lankan High Commissioner Milinda Moragoda when the envoy met her on Monday. It was the latest in a series of meetings Moragoda held with Sitharaman on India's economic cooperation and assistance to Sri Lanka in view of the economic crisis. He had last met her on May 27.

"High Commissioner Moragoda once again thanked Minister Sitharaman for the continuation of assistance that India is extending to Sri Lanka, and particularly for expeditiously arranging a separate line of credit of USD 55 million granted on June 10 to import 65,000 MT of urea required for the present cultivation season in Sri Lanka," the high commission said.

 "In response, Minister Sitharaman assured High Commissioner Moragoda of her fullest cooperation to the economic recovery process in Sri Lanka, while expressing the hope that Sri Lanka would recover very soon given the resilience of her people," it said. Moragoda also met 15 European envoys based in New Delhi, that are concurrently accredited to Sri Lanka.

The ambassadors of Austria, Belarus, Belgium, Bosnia and Herzegovina, Croatia, Czech Republic, Denmark, Ireland, Luxembourg, North Macedonia, Portugal, Serbia, Slovenia, Ukraine, and the High Commissioner of Malta also attended the meeting on Tuesday. Moragoda briefed the heads of mission on the current economic and political developments in Sri Lanka, especially the plans for the stabilization and recovery of the Sri Lankan economy, the high commission said.