Sri Lanka seeks rescue package from India

Sri Lankan Finance Minister Basil Rajapaksa landed in India today, he was received at the airport by High Commissioner Milinda Moragoda. 

During his two-day visit, Basil will hold talks with Indian leaders including Prime Minister Narendra Modi, informed source said.

He will also hold talks with his Indian counterpart Nirmala Sitharaman. Minister Rajapaksa was accompanied by Ministry Secretary S.R. Attygalle.  A credit facility from India as fuel imports is among the matters to be discussed.

Sri Lanka faces a severe economic crisis, the opposition recently alleged in Parliament that foreign reserves have dropped to US 1.5 billion dollars which include the gold reserves of US 300 million dollars. The Govt. did not refute the opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history.

Sri Lanka is seeking help from India rescue from this crisis.

Photo: Daily mirror

Leave a Reply