EAM S Jaishankar on Friday expressed India's solidarity with Sri Lanka and said that New Delhi would encourage more significant investments in the Lankan economy, especially in the core areas like energy, tourism and infrastructure.
According to TRC, China has stepped up its Buddhist outreach to Sri Lanka, which remains a major Buddhist nation and is also targeted by Beijing under its Debt-Trap Diplomacy.
The Chinese Embassy in Sri Lanka slammed the US recently after an American diplomat called China a 'spoiler' to Sri Lanka's negotiations with the International Monetary Fund (IMF) in a recent interview.
The announcement comes in the wake of External Affairs Minister S Jaishankar's visit to the island nation who will be visiting Maldives and Sri Lanka from January 18-20.
Both Sri Lanka and Pakistan are caught in China's debt track but while China has offered a bailout package to Pakistan, it has refused to defer loan repayments of Sri Lanka, True Ceylon News reported.
Debt restructuring is one of the prerequisites of the IMF's bailout package for Sri Lanka. The process is, however, getting delayed due to Sri Lanka's dire situation and a delay in concrete commitment from China, the island nation's largest bilateral lender. Sri Lanka seems to be missing its
Colombo [Sri Lanka], September 13 (ANI): Sri Lanka has reached an agreement with the International Monetary Funds (IMF) regarding debt restructuring which will start only after all Sri Lankan creditors agree to restructure their existing loans to the island nation. On the other hand, while C
Colombo [Sri Lanka], September 13 (ANI): A United States diplomat asked China to cooperate with Sri Lanka's debt restructuring and advised the island nation to be responsible for future borrowings while agreeing to participate in the re-structuring of Sri Lanka's debt.
Colombo [Sri Lanka], April 27 (ANI): Amid nationwide protests and growing calls for his resignation, Sri Lanka Prime Minister Mahinda Rajapaksa has said that he will step down if he loses the majority in the Parliament.
Colombo [Sri Lanka], April 27 (ANI): Amid the ongoing economic crisis, Sri Lanka's Prime Minister Mahinda Rajapaksa on Tuesday said he will not step down from his post.