India will help Sri Lanka in debt reworking - Sitharaman

COLOMBO (News 1st); India will continue to work closely with the Government of Sri Lanka on its debt restructuring efforts, and the path to economic recovery, said Indian Finance Minister Nirmala Sitharaman on Thursday (2) in Colombo.

She was speaking at the event to mark ‘Naam 200’ (We are 200), an event held under the theme, ‘In the tapestry of Sri Lanka’s cultural diversity, the Indian Tamil community has woven a unique thread over two centuries.

When Sri Lanka faced an economic crisis, a year earlier, it was India that came forward first to assist the ailing island nation. 

"When Sri Lanka faced its unprecedented economic crisis a year back, we felt it was our duty to stand by, with our friends in Sri Lanka. We could not bear the difficulties our friends in Sri Lanka had to face," she told a packed Sugathadasa Indoor Stadium in Colombo.

In order to address the economic crisis, India rendered an unprecedented financial assistance of over USD 4 Billion for the people of Sri Lanka.

"We were the first bilateral creditor to convey financing assurances to the International Monetary Fund which paved the way for others to provide similar assurances that formalized the IMF program for Sri Lanka. As a true friend, India continues to work closely with the government of Sri Lanka on debt restructuring discussions as well as on its path of economic recovery," she elaborated.