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Discussions on utilizing the remaining funds of India’s debt relief to import essential medicines

Attention has been focused on the possibility of using the remaining funds of the Indian debt relief of one billion US dollars for the import of urgently needed medicines, which has become a problem for Sri Lanka.

The High Commissioner of Sri Lanka to India, Milinda Moragoda, met the Minister of Finance and Corporate Affairs of India, Nirmala Sitharaman, at the Ministry of Finance in New Delhi on the afternoon of the 14th and discussed this issue.

The first meeting of the finance ministers of the G20 countries is scheduled to be held in Bangalore on February 24-25 under the chairmanship of Minister Sitharaman and the meeting between the Indian Finance Minister and the High Commissioner of Sri Lanka is special.

The High Commissioner thanked the Government of Sri Lanka for the initiation of Indian rupee transactions and the adoption of regulations and clauses to facilitate the transactions.

Moragoda also expressed his gratitude for the emergency aid given to Sri Lanka and the assurance given by the Indian government to the International Monetary Fund regarding the debt restructuring process of Sri Lanka.

The High Commissioner briefed Minister Sitharaman about Sri Lanka’s discussions with the International Monetary Fund and the current status of the country’s debt restructuring process, and the minister informed about the sharp impact the current economic contraction has had on the people of Sri Lanka.

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