One who helps in crisis is your actual friend, the saying seems literally true in the ongoing Sri Lanka Economic Crisis. Today, Sri Lanka is going through a massive economic crisis and the government is trying hard to save the nation from collapsing. The Sri Lankan Economic Crisis is also the perfect example of why other countries stay away from taking loans or let's say Chinese-funded 'billion-dollar dream'. Now, Sri Lanka's former Prime Minister Ranil Wickremesinghe has lauded 'true friend' India and exposed the Chinese hypocrisy amind the ongoing Economic Crisis.
Talking to a prominent news agency Ranil Wickremesinghe stated that India has helped Sri Lanka to its maximum extent. Apart from monetary help, India is also helping Island Nation in non-financial ways. Not only this, but the former Sri Lankan Prime Minister also exposed the Chinese administration and explained how they turned their back and left the people of Sri Lanka to suffer.
"I think India has helped to the maximum. We will have to see, and they are still helping in non-financial ways. So, we have to be thankful to them. No heavy Chinese investment under this Government. They have sought investments but investments haven't come in. I think discussions are on about rescheduling of repayment of loans. They have to talked to the Chinese Government, that's all I know," said Ranil Wickremesinghe.
How India is helping Sri Lanka in its worst Economic Crisis?
At a time when Sri Lanka Economic crisis has worsened, its ally China has turned its back. However, it is India, that is somewhat trying to normalise and control the falling economy of Sri Lanka. At a time when Sri Lanka is facing massive shortage of food, fuel, paper and medicine, India has emerged out to be a greater force. Apart from the supply of medicines, India has decided to aid Sri Lanka with a $1 billion credit line with India for the procurement of food among other essential items. Earlier in January this year, the Reserve Bank of India (RBI) had announced a $400 million swap to help Sri Lanka pump in some reserves. It was done in the line with an aid package that the neighbours had negotiated.
Additionally, Sri Lanka has signed an agreement for a $500 million credit line to purchase fuel from India in February. Earlier on March 17, both nations signed a $1 billion credit line for essential items. Sri Lanka is now seeking an additional credit line of another $1 billion from New Delhi to bring in essentials as shortages in the island country continue to persist. India has already put up a total of $2.4 in assistance to Sri Lanka.