Sri Lanka has secured India’s support for its debt restructuring plan, a key to Sri Lanka securing a $2.9 billion bailout package from the International Monetary Fund (IMF), but it still requires support from its biggest bilateral lender, China.
Indian External Affairs Minister Subrahmanyam Jaishankar said Friday that India will extend financing assurances to the IMF to clear the way for Sri Lanka to move forward with its economic recovery.
Jaishankar made the remarks at a press conference following his meeting with his Sri Lankan counterpart, Ali Sabry, and President Ranil Wickremesinghe in Colombo on Friday.
During the meeting, Jaishankar reaffirmed India’s commitment to being a “reliable partner” to Sri Lanka, saying that India had decided “not to wait on others but to do what is right,” according to Sri Lanka’s Presidential Office….