Sri Lanka crisis: India says 'guided' by 'best interest' of the people; backs democratic processes

Reported By: Sidhant Sibal
New Delhi Updated: May 10, 2022, 10:01 PM(IST)

Sri Lanka Photograph:( AFP )

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The Indian support to Sri Lanka includes $500 million for fuel and $1 billion for food, medicine and essential supplies, credit swap of $400 million and deferment of an Asian clearing union payment of over $515 million.

With Sri Lanka rocked by economic and political crisis, India has made it clear that its policy with Colombo is "guided" by the "best interest of people of Sri Lanka expressed through democratic processes".

The ministry of external affairs in a statement highlighted that "India is fully supportive of its democracy, stability and economic recovery".

The country has seen a full-blown economic crisis as prices of basic commodities sky-rocketed impacting the common man.

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The economic crisis has now become a political crisis even as Prime Minister Mahinda Rajapakse resigned. India is the largest neighbour of the Indian Ocean island country and has close linkages -  historical and people-to-people with the country.

The ministry of external affairs in a statement pointed towards India's "Neighbourhood First policy" and said that it has "extended support worth over US$ 3.5 billion to the people of Sri Lanka this year alone for helping them overcome their current difficulties". The statement explained, "people of India have provided assistance for mitigating the shortages of essential items such as food, medicine etc."

The Indian support to Sri Lanka includes $500 million for fuel and $1 billion for food, medicine and essential supplies, credit swap of $400 million and deferment of an Asian clearing union payment of over $515 million.

As part of lines of credit, India has already sent diesel, petrol and rice to the country.

Additionally, as Sri Lanka is in talks with IMF for a bailout, New Delhi has also put in its word to the multilateral body. During last month's talks between Indian finance minister Nirmala Sitharaman and IMF chief Kristalina Georgieva in Washington a bailout to Sri Lanka was among the topics discussed.

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