India has agreed to lend another কোটি 500 million to neighboring Sri Lanka in talks on emergency international financial assistance. Commodity prices have skyrocketed as Sri Lanka, in an unprecedented financial crisis, has been unable to import due to lack of foreign exchange. There has been a terrible crisis in essential commodities like oil and medicine.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .On India’s loan assistance, Sri Lankan Finance Minister Ali Sabri said, “India has agreed to provide another কোটি 500 million in loan assistance for energy imports.
He hoped that New Delhi would consider providing another কোটি 1 billion in loan assistance.
India has already agreed to pay কোটি 1.5 billion in import costs. The new Delhi aid comes amid a Sri Lankan court-martial seeking emergency assistance from the International Monetary Fund (IMF) to tackle the economic crisis. Sri Lankan Finance Minister Ali Sabri is currently in Washington to discuss IMF assistance.
He said discussions have begun on the increased funding facility. However, the details have not been fixed yet. The island nation needs about কোটি 400 million to solve the current crisis. Ali Sabri is in talks with international financial institutions such as the World Bank as well as with major economies such as China and Japan.
Sabri said, ‘The next 9 months will be very difficult. At this point the central bank will have to invest heavily in dollars. We are talking to different countries. If this effort succeeds and an additional ২০০ 200 million is invested, the devaluation will stop and the rupee will return to a stable place. ‘
