FM Nirmala Sitharaman calls on IMF to urgently provide financial assistance to Sri Lanka
Finance minister Nirmala Sitharaman has called on International Monetary Fund (IMF) to urgently provide financial assistance to Sri Lanka. Sri Lanka which is in the throes of an unprecedented economic crisis, had announced that it would default on foreign debt repayments, totaling 51 billion US dollar. The Island Nation is seeking a 4 billion US dollar bailout package for this year from the IMF.
The Sri Lankan economic crisis was a key part of the conversation between Ms Sitharaman and IMF Managing Director Kristalina Georgieva in Washington DC.
Ms Georgieva assured the Finance Minister that the IMF would continue to actively engage with Sri Lanka. Ms Sitharaman also held a bilateral meeting with her Sri Lankan counterpart Ali Sabry, to discuss the economic situation in Sri Lanka.
Ms. Sitharaman assured Sri Lanka that as a close friend and good neighbour, India will try to extend all possible cooperation and assistance to the country.
