Sri Lanka and India evaluate the status of ongoing economic cooperation and discuss the way forward

• High Commissioner Moragoda met with Indian Finance Minister Sitharaman for the second time since April.

• Extends Lanka’s gratitude for continued supportHe

Sri Lanka’s High Commissioner in Delhi Milinda Moragoda said yesterday that Sri Lanka would require bridging finance until the economic adjustment programme with the IMF could be negotiated and finalized.

Mr. Moragoda stated Sri Lanka’s position when he met with Finance and Corporate Minister of India Smt Nirmala Sitharaman to evaluate the status of ongoing cooperation to discuss the way forward

The meeting held yesterday was a follow-up to the meeting held in mid-April,.

In this context, the Minister and the High Commissioner explored the possibility of increasing and restructuring the assistance provided by India in the form of credits for essential commodities and fuel as well as balance of payment support.

It was agreed at this meeting that the established official-level mechanism for conducting the economic dialogue between the two countries should continue

High Commissioner, Mr Moragoda thanked Minister Sitharaman for the continuation of assistance that India is extending to Sri Lanka in the form of credits for essential commodities and fuel, and also for balance of payment support extended.

He particularly appreciated her taking up the case of Sri Lanka on the sidelines of the IMF Spring Meetings in April in Washington D.C., with the IMF, other multilateral institutions and bilateral development partners.

Mr. Moragoda also briefed Minister Sitharaman on the present developments in Sri Lanka.

.Chief Economic Advisor of the Government of India Prof. Anantha Nageswaran who leads the Indian side at the official-level discussions, and senior officials of the High Commission of Sri Lanka in New Delhi also participated in the meeting.