Jaishankar meets Sri Lankan Finance Minister; discusses economic situation, India’s support


PTI, Mar 28, 2022, 11:15 AM IST

Colombo: External Affairs Minister S Jaishankar on Monday met Sri Lanka’s Finance Minister Basil Rajapaksa and discussed with him the island nation’s economic situation and India’s support during its current foreign exchange crisis.

Sri Lanka is facing an acute economic and energy crisis triggered due to the shortage of foreign exchange.

Jaishankar is here to hold bilateral talks with the country’s top leadership and attend the seven-nation BIMSTEC summit.

“Began the visit by meeting Finance Minister @RealBRajapaksa. Discussed the economic situation and India’s supportive response. We will continue to be guided by Neighbourhood First,” he said on Twitter.

Jaishankar’s visit is taking place at a time when the public outrage over the Lankan government’s inefficiency in handling the crisis has come out in the open.

This is his first visit to the island nation since India extended an economic relief package to bail Sri Lanka out of the current economic crisis.

Although Jaishankar’s Colombo visit is primarily for the BIMSTEC engagements, officials here said he would be taking part in all important bilateral talks with the Sri Lankan leaders.

Besides India and Sri Lanka, the BIMSTEC comprises Bangladesh, Myanmar, Thailand, Nepal and Bhutan.

The summit is being hosted by Sri Lanka in its capacity as the chair of the grouping BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation).

Prime Minister Narendra Modi will attend the virtual summit of the BIMSTEC grouping on March 30, which is expected to focus on expanding economic engagement among its member countries.

Amidst the current foreign exchange crisis, people are holding protests and vigils urging immediate solutions to rid them of fuel and gas queues and enduring long hours of power cuts A sudden rise in prices of key commodities and fuel shortage forced tens of thousands of people to queue for hours outside petrol filling stations. People are also facing long hours of power cuts daily.

All essentials are in short supply due to import restrictions forced by the forex crisis.

India recently announced to extend a USD 1 billion line of credit to Sri Lanka as part of its financial assistance to the country to deal with the economic crisis.

New Delhi had extended a USD 500 million line of credit to Colombo in February to help it purchase petroleum products.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Thank you, Mumbai, we will remember this one: Kohli after MI’s win seals RCB’s playoff berth

Doesn’t matter if there is a common language or not: Ayushmann Khurrana

Road crash in UP leaves 8 dead; PM announces Rs 2 lakh ex gratia for kin of deceased

Bengaluru: Man falls to death as car hits bike on flyover

Biden says monkeypox cases something to ‘be concerned about’

8 task forces formed to monitor development work in Bengaluru

“We will consider,” says Bommai on further cut in fuel tax


Related Articles More

Road crash in UP leaves 8 dead; PM announces Rs 2 lakh ex gratia for kin of deceased

SC orders clubbing of FIRs in scam cases, says multiplicity of proceedings not in public interest

Foxglove blooms bright in J-K’s ‘Valley of Flowers’ but tourism slump continues; locals blame BDA

Biden says monkeypox cases something to ‘be concerned about’

CM leads bicycle rally on drug awareness in Sangrur

MUST WATCH

High tech Bust stand Inaguration at Shirva

NEWS BULLETIN 21-05-2022

We will have 2 options

Chikkamagaluru DC statement Namaz at Dattapeeta video goes viral

Kalasa Crime : CCTV Footage found


Latest Additions

Thank you, Mumbai, we will remember this one: Kohli after MI’s win seals RCB’s playoff berth

Doesn’t matter if there is a common language or not: Ayushmann Khurrana

Road crash in UP leaves 8 dead; PM announces Rs 2 lakh ex gratia for kin of deceased

SC orders clubbing of FIRs in scam cases, says multiplicity of proceedings not in public interest

SC orders clubbing of FIRs in scam cases, says multiplicity of proceedings not in public interest

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.