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Sri Lanka thanks India for backing its USD 2.9 billion bailout package; issuing guarantees to IMF

Also, External Affairs Minister S Jaishankar during his recent visit to Colombo gave the required assurances to Sri Lanka's top leadership for the much-needed IMF bailout package, becoming the first major lender to publicly back the island nation's efforts to recover from its worst-ever economic crisis.

January 25, 2023 / 04:21 PM IST
Sri Lanka

Sri Lanka

Debt-ridden Sri Lanka on Wednesday thanked India for issuing the necessary guarantees sought by the IMF that would help Colombo to unlock the USD 2.9 billion bailout package.

India’s ministry of finance recently issued a letter to the International Monetary Fund (IMF) to confirm its support to Sri Lanka on the issue of debt restructuring.

Also, External Affairs Minister S Jaishankar during his recent visit to Colombo gave the required assurances to Sri Lanka's top leadership for the much-needed IMF bailout package, becoming the first major lender to publicly back the island nation's efforts to recover from its worst-ever economic crisis.

In a statement on Wednesday, the Governor of the Central Bank of Sri Lanka Nandalal Weerasinghe thanked India for issuing the necessary guarantees warranted by the IMF for unlocking the USD 2.9 billion bailout for the country.