India to Support Crisis-hit Sri Lanka’s Economic Recovery

Environmental News from the Asia Pacific:

India’s top diplomat held talks with Sri Lanka’s president and prime minister on Thursday as India signaled its willingness to go beyond the $4 billion in loans, swaps, and aid that it has already provided its cash-strapped neighbor.

Sri Lanka is facing its worst economic crisis in seven decades, with a severe foreign exchange shortage hampering the import of essentials, including food, fuel, and medicines.

The island nation off the tip of southern India needs about $5 billion in the next six months to cover basic necessities for its 22 million people, who have been struggling with long queues for basic items, worsening shortages, and power cuts.

Indian Foreign Secretary Vinay Kwatra, accompanied by other Indian officials, held talks with President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe on providing further financial assistance to the country, the president’s office said in a statement.

To read top environmental news from the Asia Pacific, please visit https://earth5r.org 

Source: Reuters

What's your reaction?
0Cool0Upset0Love
to top