India backs Sri Lanka to secure IMF bailout plan amid crisis
India’s foreign minister says his country has given financial assurances to the International Monetary Fund to facilitate a bailout plan to help neighboring Sri Lanka emerge from its worst economic crisis, in a first formal announcement from one of the island nation’s creditors
COLOMBO, Sri Lanka (AP) — India's foreign minister said Friday his country has given financial assurances to the International Monetary Fund to facilitate a bailout plan to help neighboring Sri Lanka emerge from its worst economic crisis, in a first formal announcement from one of the island nation’s creditors.
India’s Foreign Minister S. Jaishankar announced the support while on a two-day visit to Sri Lanka, where he met with President Ranil Wickremesinghe and other Cabinet ministers.
“We felt strongly that Sri Lanka’s creditors must take proactive steps to facilitate its recovery. India decided not to wait on others but to do what we believe is right. We extended financing assurances to the IMF to clear the way for Sri Lanka to move forward,” he said.
“Our expectation is that this will not only strengthen Sri Lanka’s position but ensure that all bilateral creditors are dealt with equally,” Jaishankar added.
