Wednesday, November, 30,2022

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Sri Lanka envoy Moragoda meets NSA Doval, reviews bilateral ties

New Delhi: As part of a regular and ongoing dialogue between India and Sri Lanka, the island nation's High Commissioner Milinda Moragoda has met with National Security Advisor Ajit Doval and reviewed the status of the relations between the two countries.
"As part of the regular and ongoing dialogue between them, High Commissioner @MilindaMoragoda met with the National Security Advisor of India Shri Ajit Doval today (22). The discussion centered on a comprehensive review of the status of the relations between India and Sri Lanka," SL High Commission in India tweeted. Since the beginning of 2022, Sri Lanka has experienced an escalating economic crisis and the government has defaulted on its foreign loans. Sri Lanka is battling food and fuel scarcity affecting a large number of the people in the island nation. The economy has been in free fall since the onset of the COVID-19 pandemic.
India has extended around USD 4 billion in bilateral assistance this year for the people of Sri Lanka.
In a bid to sustain it from debt, India also extended its continuous support to Sri Lanka in all possible ways, particularly by promoting long-term investments from New Delhi in key economic sectors in Colombo for its early economic recovery and growth.
"We have also noted the conclusion of a Staff Level Agreement between IMF and Government of Sri Lanka. Its further approval within IMF is contingent upon, inter alia, on Sri Lanka's debt sustainability. We continue to be supportive of Sri Lanka in all possible ways, in particular by promoting long-term investments from India in key economic sectors in Sri Lanka for its early economic recovery and growth," the spokesperson of the High Commission had said.
On August 22, India handed over 21,000 tonnes of fertilizer to its crisis-ridden neighbour.
Highlighting India-Sri Lanka's close and longstanding relationship, the High Commission noted that the people of Sri Lanka continue to avail of scholarships for higher education and skills training in premier Indian institutions.
India under its 'Neighbourhood First' policy, has always come forward to help the debt-ridden island country. India has extended 8 Lines of Credit (LOCs) to Sri Lanka amounting to USD 1,850.64 million in the past 10 years.
India has been at forefront of extending economic assistance to Sri Lanka as per their requirements and is one of the countries that have provided the maximum amount of assistance in time of need.
Sri Lanka is also facing a foreign exchange shortage, which has, incidentally, affected its capacity to import food and fuel, leading to power cuts in the country. The shortage of essential goods forced Sri Lanka to seek assistance from friendly countries. (ANI)

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