Financial Bridge between Sri Lanka & India!!
Unless sri lanka can reach an agreement with the IMF in the next four months, it would require substantially more financial assistance for imports. india has played a critical role in assisting sri lanka, which is experiencing its worst economic crisis in history. Meanwhile, ANI reported, citing trustworthy sources, that Colombo has asked New delhi to offer bridge funding till sufficient monies from the international Monetary Fund are received (IMF). The IMF's assistance might take three to four months.
This information came following many discussions between Finance minister nirmala sitharaman and her Sri Lankan counterpart and High Commissioner. sri lanka has also asked india to utilise its clout with friendly countries like japan to help Colombo with a Line of Credit, according to sources. In addition, he has urged india to seek assistance from multilateral organisations.
Sri Lanka has received a $2.4 billion credit line from india for food, fuel, pharmaceuticals, currency swaps, and payment delays at the Asian Clearing Union. However, unless sri lanka and the IMF reach an agreement in the next four months, the island government will require substantially more financial assistance for imports.