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Sri Lanka meets India for economic support

Sri Lanka meets India for Economic Support –

The High Commissioner of Sri Lanka, Milinda Moragoda met with the Union Commerce Minister, Piyush Goyal as well as the Union Finance Minister, Nirmala Sitharaman on Tuesday. This meeting was held with a very important topic in mind. The High Commissioner of Sri Lanka wanted to discuss about India’s economic support for his country. He wanted to have a conversation about expanding bilateral trade and the use of rupee for trade purposes.

Both India and Sri Lanka discussed various issues related to bilateral trade and commerce. They also talked about the economic recovery of Sri Lanka. The High Commissioner has also been meeting with other important ministers to talk about certain issues.

India has always provided Sri Lanka with a helping hand. It has provided economic assistance worth almost around $4 billion to Sri Lanka to support their island nation. Our country also provided them with a currency swap and lines of credit in case of any emergency related to food. Fuel and medicines were also given to the nation during the economic crisis that took place last year.

During Moragoda’s meeting with the finance minister of our union he talked about how he was grateful for all the support from India. He was very thankful for the opportunity of rupee trade between the countries. They also discussed various other issues. They talked about utilizing the resources available in India. Both Moragoda and Sitharaman discussed about the Indian line of credit worth $1 billion. This line will be used to supply medicines and other pharmaceuticals to Sri Lanka.

Help from the International Monetary Fund

The High Commissioner of Sri Lanka also thanked the International Monetary Fund (IMF). The IMF provide Sri Lanka with a lot of help and support. They helped Colombo access a $2.9 billion bailout mission. The High Commissioner also mentioned about the discussion he had with the IMF to Sitharaman. He said that the IMF have been a huge help by obtaining the fund facility for his country.
He later thanked the finance minister for her help and for the huge impact India has had over the country.

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