Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Sri Lanka seeks bridging finance from India till IMF bailout, say sources
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • World
  • Sri Lanka seeks bridging finance from India till IMF bailout, say sources

Sri Lanka seeks bridging finance from India till IMF bailout, say sources

Asian News International • April 17, 2022, 15:29:44 IST
Whatsapp Facebook Twitter

India’s southern neighbour Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of its people, resulting in massive protests over the government’s handling of the situation

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Sri Lanka seeks bridging finance from India till IMF bailout, say sources

Colombo: While India plays a prominent role in helping its neighbour Sri Lanka come out of a deep economic crisis, it was learnt from reliable sources that Colombo has asked New Delhi to provide bridging finance for the crisis-ridden country till the International Monetary Fund (IMF) provides adequate funds, which may take another three to four months. Notably, this comes after Finance Minister Nirmala Sitharaman held several rounds of discussions with her Lankan counterpart and High Commissioner. Sri Lanka, sources added, has also asked India to use its influence on friendly countries like Japan to help Colombo with a line of credit and also reach out to multilateral organisations for assisting the island nation. A source familiar with the development said that the Indian Finance Minister was positive about this proposal and is expected to reach out to other friendly countries to mobilise assistance for the economic crisis-affected Sri Lanka. Meanwhile, Sri Lankan Finance Minister Ali Sabry is expected to meet Sitharaman in Washington DC in the coming week, according to sources. In the shape of the line-of-credit for food, fuel, medicine, currency swap and deferment of payment at the Asian Clearing Union, India has already provided assistance to the tune of USD 2.4 Billion to Sri Lanka. However, for the next four months, till the IMF deal is worked out, the island nation will be needing much bigger financial backing for imports. Technical talks are also taking place between members of the Sri Lankan Presidential Advisory Group on Multilateral Engagement and Debt, with India’s Chief Economic Advisor V Anantha Nageswaran. Sri Lanka will begin talks with the IMF tomorrow and the process is likely to take around four months to operationalise. Thus, Colombo is looking for bridging finance for this period from India and other countries. Sources familiar with the developments said India is the first and only country that is coming forward to bring Sri Lanka out of its financial mess, and Colombo sees it as a new chapter in the bilateral relationship with New Delhi. Sri Lanka sees this as long term, beyond crisis, and hopes to play a prominent role in India’s energy aspirations for the future, they said. India’s southern neighbour Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of its people, resulting in massive protests over the government’s handling of the situation. The country’s economy has been in a free-fall since the onset of the Covid pandemic following the crash of the tourism sector. Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News ,  India News  and  Entertainment News  here. Follow us on  Facebook,  Twitter and  Instagram.

Tags
Sri Lanka Sri Lankan economy Sri Lankan Crisis Sri Lankan Economic Crisis
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

Erika Kirk delivered an emotional speech from her late husband's studio, addressing President Trump directly. She urged people to join a church and keep Charlie Kirk's mission alive, despite technical interruptions. Erika vowed to continue Charlie's campus tours and podcast, promising his mission will not end.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports

QUICK LINKS

  • Trump-Zelenskyy meeting
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV