India: India says ready to help Sri Lanka in quick economic recovery

NEW DELHI, 24 June 2022, (TON): Indian official has held talks with Sri Lankas president and prime minister as India signals its willingness to go beyond the $4bn in loans, swaps and aid that it has already provided its cash-strapped neighbour.

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

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

Officials said “Indian Foreign Secretary Vinay Kwatra, accompanied by finance ministry officials, held talks with President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe in the commercial capital, Colombo.”

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