India seeks Political Stability in Sri Lanka

The Minister of External Affairs for India, S.Jaishankar said that Sri Lanka needs Political Stability to overcome the Economic crisis during the all party meeting yesterday in India.

This all party meeting was headed by S.Jaishankar and Nirmala Sitharaman, The Minister of Finance for India as per instruction by the Government to discuss the current Economic Crisis in Sri Lanka.

Several Political Party leaders attended the meeting which included the representatives from DMK and AIADMK from Tamilnadu state.

He stated that the way out of the crisis for Sri Lanka would require both Political stability and the need for debt restructuring by Sri Lankan lenders in order to allow for an economic recovery. 

Mr.Jaishankar said that no other country helped Sri Lanka like India did in terms of food,fuel and other basic essentials. 

India’s assistance to Sri Lanka is about 3.8 billion since January 2022 which includes Currency swap of $400 million,a debt deferral of more than $1.5 billion,Lines of Credit totaling $1.55 billion for food,fuel,fertilisers and other essentials.

“Fiscal prudence and responsible governance are lessons our country(India) has to learn from the neighbouring country (Sri Lanka),” Jaishankar added

Mr.Jaishankar stressed that the Rajapaksas were warned by the Indian Government about the economic slide on several occasions but the Rajapakasas had not been ‘responsible’ in the crisis.

The Political parties from Tamilnadu State raised the issue and demanded the Central Government of India to intervene in the Fishermen issue and asked about the position of “Katchatheevu”.

By Sohan Vipulananda.