{"id":80907,"date":"2023-01-15T00:27:23","date_gmt":"2023-01-15T04:27:23","guid":{"rendered":"http:\/\/dbsjeyaraj.com\/dbsj\/?p=80907"},"modified":"2023-01-15T23:30:36","modified_gmt":"2023-01-16T03:30:36","slug":"indian-external-affairs-minister-dr-s-jaishankar-may-deliver-positive-message-from-india-to-sri-lanka-on-its-debt-re-structuring-efforts-during-two-day-visit-support-in-the-form-of-wri","status":"publish","type":"post","link":"https:\/\/dbsjeyaraj.com\/dbsj\/?p=80907","title":{"rendered":"Indian External Affairs Minister Dr.S.Jaishankar may Deliver Positive Message from India to Sri Lanka on its Debt Re-structuring Efforts During Two day Visit ; support in the form of \u201cwritten financial assurances\u201d likely from India sources said"},"content":{"rendered":"


\nBy
\nSuhasini Haidar and Meera Srinivasan<\/strong><\/p>\n

External Affairs Minister S. Jaishankar\u2019s visit to Colombo on Thursday will focus on \u201csupporting Sri Lanka\u201d in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka\u2019s debt. The two-day visit is expected to see some announcements.<\/p>\n

\u201cIndia is expected to give a positive response to Sri Lanka\u2019s requirements, in keeping with India\u2019s support last year as well,\u201d said a source, citing India\u2019s combined package of about $4 billion including loans, credit lines for the purchase of essentials and a loan deferment through the Asian Clearing Union.<\/p>\n

In addition, talks are expected on two possible MoUs\u2014 on the Trincomalee development project and the long-pending plan for a cross-strait transmission line that would allow Sri Lanka access to India\u2019s plans for an energy grid along with other countries like Nepal, Bhutan and Bangladesh.<\/p>\n

<\/p>\n

The sources stressed that while assisting Sri Lanka with its current economic difficulties is a priority, Mr. Jaishankar\u2019s visit, his first with the six-month-old government in Colombo, would see a comprehensive review of bilateral ties.<\/p>\n

Meanwhile, diplomatic sources said that the support, in the form of \u201cwritten financial assurances\u201d from India would be critical for Sri Lanka as it works with its other creditors to resolve the economic crisis.<\/p>\n

Announcing the visit by EAM Jaishankar, Sri Lankan President Ranil Wickremesinghe said that he had discussed the need for the debt restructuring programme with all Sri Lanka\u2019s creditors, including the 22-nation \u2018Paris Club\u2019 of 22 developed nations that hold much of the global debt and discuss solutions to debt crisis together.<\/p>\n

\u201cJapan and the Paris Club, two of our major creditors, have expressed their willingness to assist. We have already begun talks with India and China. According to the discussions with China Exim Bank recently, we\u2019re currently debating on how to restructure our debt. The Chinese side has agreed to move quickly,\u201d Mr. Wickremesinghe told a group of businessmen last week<\/p>\n

He said that Sri Lanka\u2019s \u201conly\u201d option was to seek the support of the International Monetary Fund (IMF) for nearly three billion dollar bailout, and was also hopeful of a package from the Asian Development Bank (ADB).<\/p>\n

\u201cWe discussed with China\u2019s EXIM Bank this week and by now we have commenced exchanging views on it. India\u2019s Foreign Minister is scheduled to visit Sri Lanka on the 19th to discuss the debt restructuring process. We are proceeding with these activities gradually,\u201d the Sri Lankan President said to a separate group of trade union representatives, indicating the visit by Japanese State Minister of the Cabinet Office Satoshi Fujimaru and the ongoing visit of Chen Zhou, Vice Minister of the International Department, the Communist Party of China Central Committee.<\/p>\n

After Mr. Chen\u2019s meeting with President Wickremesinghe, the Chinese Embassy in Sri Lanka said the talks were \u201cfriendly and fruitful\u201d, and quoted Mr. Wickremesinghe as saying that he \u201clooked forward to China\u2019s support in restructuring Sri Lanka\u2019s debt at the moment and our economy in the near future\u201d.<\/p>\n

Sri Lanka had hoped to finalise its IMF bailout package, but missed a December deadline due to the delay in concluding debt restructure talks. It now hopes to complete the talks in the first quarter of 2023.
\n
\nCourtesy: The Hindu<\/em><\/p>\n

Tweet<\/a><\/div>","protected":false},"excerpt":{"rendered":"

By Suhasini Haidar and Meera Srinivasan External Affairs Minister S. Jaishankar\u2019s visit to Colombo on Thursday will focus on \u201csupporting Sri Lanka\u201d in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka\u2019s debt. …<\/p>\n

Continue reading ‘Indian External Affairs Minister Dr.S.Jaishankar may Deliver Positive Message from India to Sri Lanka on its Debt Re-structuring Efforts During Two day Visit ; support in the form of \u201cwritten financial assurances\u201d likely from India sources said’ »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts\/80907"}],"collection":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=80907"}],"version-history":[{"count":1,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts\/80907\/revisions"}],"predecessor-version":[{"id":80908,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts\/80907\/revisions\/80908"}],"wp:attachment":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=80907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=80907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=80907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}