Sitharaman, Moragoda discuss crisis-ridden Lanka economy

Indian Finance and Corporate Affairs Minister Nirmala Sitharaman and Sri Lanka High Commissioner in New Delhi Milinda Moragoda on Tuesday (06) reviewed the current status of economy, in Sri Lanka, when they met at Sitharaman’s office in North Block, New Delhi.

The Sri Lankan HC in New Delhi said that this was the latest of a series of meetings High Commissioner Moragoda has had with Minister Sitharaman since November last year on Indian economic cooperation and assistance to Sri Lanka in the context of the present crisis.

At the outset, High Commissioner Moragoda briefed Minister Sitharaman on Sri Lanka’s ongoing discussions with the International Monetary Fund and the present status of the country’s debt restructuring process. He also briefed her on the drastic impact the present economic contraction is having on the poor and vulnerable segments of the population of Sri Lanka.

The High Commissioner once again thanked Minister Sitharaman for the unprecedented emergency assistance that India has extended to Sri Lanka and her personal interventions with bilateral and multilateral partners throughout this challenging and difficult period.

High Commissioner Moragoda and Minister Sitharaman also reviewed the status of bilateral economic cooperation, and the High Commissioner emphasized that India could play a critical role in Sri Lanka’s economic revival through multi-faceted economic integration between the two countries by enhancing investments, tourism and trade.