India is sensitive to Sri Lanka's needs, says India's Modi

COLOMBO (News 1st); Indian Prime Minister Narendra Modi had told India's PTI that India has been greatly sensitive to the needs of our valued neighbour, Sri Lanka, during their tough times.

In an exclusive with PTI the Indian Prime Minister said that India looks at building consensus to evolve a framework to help debt-ridden low income economies.

Modi emphasized that the debt crisis is a matter of great concern for the world, especially for developing countries, while noting that significant emphasis was placed on addressing the global challenges posed by debt vulnerabilities, especially for the Global South.

He pointed out that those countries that have gone through debt crisis before gives greater importance to financial discipline.

In July, IMF Chief Kristalina Georgieva pitched for a speedier debt restructuring process for vulnerable countries.

India is hosting the G20 summit on September 9 and 10 in its capacity as the current chair of the grouping. 

(Source: PTI / Agencies)