Sri Lanka seeks Russian Help for Fuel Supply
New Delhi: President Gotabaya Rajapaksa sought Russian credit facilities to import fuel to Sri Lanka in overcoming the existing economic challenges during a teleconference he had with his Russian counterpart Vladimir Putin on Wednesday, July 7.
Sri Lankan President tweeted, “Had a very productive discussion with Russian President Vladimir Putin. While thanking him for all the support extended by his government to overcome challenges of the past, I requested an offer of credit support to import fuel to Sri Lanka in defeating the current economic challenges,”
The President said that he had made a request to restart Aeroflot operations in Sri Lanka and agreed unanimously that strengthening bilateral relations in many fields including tourism was paramount in reinforcing the friendship our two nations share.
Further, “I humbly made a request to restart Aeroflot World operations in Sri Lanka. We unanimously agreed that strengthening bilateral relations in sectors such as tourism, trade, and culture was paramount in re-inforcing the friendship our two nations share,” he tweeted.
According to a media report, Sri Lanka is struggling to raise $587 million to pay for about half a dozen fuel shipments, a top minister said Sunday as the cash-strapped country tries to cope with its worst financial crisis in decades. Sri Lanka’s macroeconomic landscape has been characterized by fiscal dominance—high deficits and public debt. This has manifested in a high degree of macroeconomic volatility, evidenced by its frequent balance-of-payments crises and instability.
(Vinayak)
