https://sputniknews.in/20230114/indias-foreign-minister-to-visit-sri-lanka-as-colombo-asks-its-debt-to-be-written-off--502002.html
India's Foreign Minister to Visit Sri Lanka as Colombo Asks Its Debt to Be Written Off
India's Foreign Minister to Visit Sri Lanka as Colombo Asks Its Debt to Be Written Off
Sputnik India
The Indian External Affairs Minister S. Jaishankar will be in Sri Lanka on a two-day visit from 19 January.
2023-01-14T13:09+0530
2023-01-14T13:09+0530
2023-01-14T13:09+0530
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India's External Affairs Minister S. Jaishankar will be in Sri Lanka on a two-day visit starting January 19, Indian media confirmed. This will be Jaishankar's first trip to Sri Lanka since President Ranil Wickremesinghe took office last July.The visit comes as crisis-hit Sri Lanka has defaulted on its debt repayments and has been negotiating a $2.9 billion bailout from International Monetary Fund (IMF).But the IMF said it would only release the funds once China and India reduce Sri Lanka's billions of dollars in debt. China's lending to Sri Lanka stands at around $7 billion, while India is owed around $1 billion.Sri Lanka has urged India and China to write down their loans as soon as possible.Meanwhile, a high-level delegation from China led by the International Department Vice Minister Chen Zhou is visiting Sri Lanka on January 14-18.During Jaishankar's visit to Sri Lanka, the two sides are expected to review the progress of projects, including connectivity and investment in Sri Lanka, particularly in the port and energy sectors.Earlier, India has reestablished air connectivity between Jaffna and Chennai and the ferry links between northern Sri Lanka and southern ports in India.Sri Lanka also seeks to expand its existing free trade agreement with India into a comprehensive Economic and Technology Agreement.
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india's foreign minister, sri lanka, debt negotiation, president ranil wickremesinghe,
india's foreign minister, sri lanka, debt negotiation, president ranil wickremesinghe,
India's Foreign Minister to Visit Sri Lanka as Colombo Asks Its Debt to Be Written Off
Deexa Khanduri
Sputnik correspondent
India became a major source of support in 2022 for the island nation of Sri Lanka, which is facing its worst financial crisis in over seven decades.
India's External Affairs Minister S. Jaishankar will be in Sri Lanka on
a two-day visit starting January 19, Indian media confirmed. This will be Jaishankar's first trip to Sri Lanka since President Ranil Wickremesinghe took office last July.
The visit comes as crisis-hit Sri Lanka has defaulted on its debt repayments and has been negotiating a $2.9 billion bailout from International Monetary Fund (IMF).
But the IMF said it would only release the funds once China and India reduce Sri Lanka's billions of dollars in debt. China's lending to Sri Lanka stands at around $7 billion, while India is owed around $1 billion.
Sri Lanka has urged
India and China to write down their loans as soon as possible.
Meanwhile, a high-level delegation from China led by the International Department Vice Minister Chen Zhou is visiting Sri Lanka on January 14-18.
During Jaishankar's visit to Sri Lanka, the two sides are expected to review the progress of projects, including connectivity and investment in Sri Lanka, particularly in the port and energy sectors.
Earlier, India has reestablished air connectivity between Jaffna and Chennai and the ferry links between northern Sri Lanka and southern ports in India.
Sri Lanka also seeks to expand its existing free trade agreement with India into a comprehensive Economic and Technology Agreement.
