https://sputniknews.in/20230119/indian-foreign-minister-s-jaishankar-arrives-in-crisis-hit-sri-lanka-567897.html
Indian Foreign Minister S. Jaishankar Arrives in Crisis-Hit Sri Lanka
Indian Foreign Minister S. Jaishankar Arrives in Crisis-Hit Sri Lanka
Sputnik India
India's foreign minister S Jaishankar visit came days after India backed Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan.
2023-01-19T18:30+0530
2023-01-19T18:30+0530
2023-01-19T18:30+0530
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Indian Foreign Minister S. Jaishankar reached Colombo on Thursday to strengthen India's ties with its debt-ridden neighbor and sign several key deals.The minister's two-day visit has come days after India backed Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan.The two nations are expected to review the progress of projects, including a four-point package in which India extended $4 billion in financial assistance to Sri Lanka through loans, deferred payments, and currency swap arrangements, besides signing a deal on a renewable power project.India has sought greater connectivity and investment with Sri Lanka, particularly in the port and energy sectors.As the island nation was facing one of its worst financial crises and defaulted on its foreign debt repayments, it is now seeking a $2.9 billion International Monetary Fund (IMF) loan for which it is obliged to secure "financial assurances" from India, China, Japan and its creditors in the Paris Club.Apart from China, other parties have written to the IMF to restructure their debt. India and China are among Sri Lanka's biggest foreign lenders.Sri Lanka owed Chinese lenders approximately $7.4 billion, while India owed around $1 billion.
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Deexa Khanduri
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indian foreign minister s. jaishankar, s. jaishankar, colombo, international monetary fund, sri lanka loan, jaishankar visit sri lanka
indian foreign minister s. jaishankar, s. jaishankar, colombo, international monetary fund, sri lanka loan, jaishankar visit sri lanka
Indian Foreign Minister S. Jaishankar Arrives in Crisis-Hit Sri Lanka
Deexa Khanduri
Sputnik correspondent
Sri Lanka President Ranil Wickremesinghe on Tuesday said that the debt restructuring talks with India and China had been "successful".
Indian Foreign Minister S. Jaishankar reached Colombo on Thursday to strengthen India's ties with its debt-ridden neighbor and sign several key deals.
The minister's two-day visit has come days after India backed Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan.
The two nations are expected to review the progress of projects, including a four-point package in which India extended $4 billion in financial assistance to Sri Lanka through loans, deferred payments, and currency swap arrangements, besides signing a deal on a renewable power project.
India has sought greater connectivity and investment with Sri Lanka, particularly in the port and energy sectors.
Jaishankar will meet Sri Lanka's president on Friday morning, India's external ministry confirmed. He will also hold talks with Sri Lanka's prime minister and foreign minister.
As the island nation was facing one of its worst financial crises and defaulted on its foreign debt repayments, it is now seeking a $2.9 billion International Monetary Fund (IMF) loan for which it is obliged to
secure "financial assurances" from India, China, Japan and its creditors in the Paris Club.
Apart from China, other parties have written to the IMF to restructure their debt. India and China are among Sri Lanka's biggest foreign lenders.
Sri Lanka owed Chinese lenders approximately $7.4 billion, while India owed around $1 billion.
