Indian and Sri Lankan authorities on Monday and Tuesday held talks on rescheduling Sri Lanka’s repayment to India and the country’s $1.1 billion currency swap demand to abate the financial effect of COVID crisis.
A representative for the Indian mission in Sri Lanka said, “In the context of the scenario concerning Sri Lankan economy’s external sector, the two countries have actually been engaged in close and positive discussions” on the concern.
Indian High Commissioner to Sri Lanka Gopal Baglay held discussions at senior levels in Colombo on Sri Lanka’s requirements.
The statement stated, “In the post-COVID world, India stays committed to partner Sri Lanka closely for the latter’s sustained economic recovery and shared success.”
The matter has been raised at the management level throughout PM Modi’s telephonic discussion with Sri Lankan President Gotabaya Rajapaksa last month on 23 May. Throughout the talks, the Sri Lankan President requested the Indian federal government to provide USD 1.1 billion unique SWAP facility to top up USD 400 million under SAARC Center.
The Indian readout stated, “Prime Minister ensured the Sri Lankan President that India would continue to supply all possible assistance to Sri Lanka for mitigating the results of the pandemic.”
President Rajapaksa likewise sought Indian assistance to restore crucial facilities jobs in the Indian Ocean Island nation consisting of hastening up the construction of the East Terminal of the Colombo Port.