India may provide an urgent economic package to aid Sri Lanka
New Delhi: The government of India may provide a huge economic package to the Colombo government as the island country is now suffering from an economic crisis, says a media report.
According to the experts, the government of India may help Sri Lanka in health security, food, a currency swap, and energy security sectors. The move follows a recent visit by Sri Lanka’s finance minister to India.
The New Delhi government is planning to extend credit lines for Sri Lanka to import food, medicine, fuel, and other essential items from India.
Sri Lanka is trying to revive its Covid-hit tourism industry with the reopening of borders following extended pandemic lockdowns and is expecting increased remittance inflows as more Sri Lankans head overseas to seek employment.
According to a media report “The Sri Lankan finance minister’s discussions with his Indian counterpart and the external affairs minister focussed on a whole gamut of issues of mutual importance pertaining to the bilateral relationship with particular attention on the economic cooperation aspect. Both sides expressed satisfaction over the evolving trajectory of the bilateral relationship. During the discussions, they identified ways and means through which the existing bilateral economic relationship between the two countries could be further broadened and deepened,”
However, in the last few years – China has invested billions of dollars in the island country Sri Lanka to counter India from the south zone and increase its presence in the Indian Ocean.
(_Vinayak Barot)
