High commission assures India's continued support for recovery in Sri Lanka

COLOMBO: Sri Lanka which is in the middle of an unprecedented economic crisis had been given reassurances by India of its continued support for democracy, stability and economic recovery in the country.

Indian High Commissioner Gopal Baglay, who called on the Sri Lankan leader, gave this assurance to Parliament Speaker Mahinda Yapa Abeywardena. The meeting came shortly after Speaker Abeywardena accepted President Gotabaya Rajapaksa's resignation.

During the meeting, High Commissioner Baglay "appreciated Parliament's role in upholding democracy and Constitutional framework, especially at this crucial juncture," the Indian High Commission tweeted.

"Conveyed that will continue to be supportive of democracy, stability and economic recovery in Sri Lanka," the Commission wrote.

Sri Lanka is facing its worst economic crisis since independence in 1948, coming on the heels of successive waves of COVID-19 with severe foreign exchange shortages hampering imports of essential goods including food, fuel and medicine.

Political upheaval was also created by the economic crisis after protests emerged against former president Rajapaksa, who was forced to flee the country and resign as president. Sri Lankan lawmakers met on Saturday to begin the process of electing a new leader to replace Rajapaksa, who is currently in Singapore.

The island nation at the tip of southeastern India needs about USD 5 billion over the next six months for basic needs for its 22 million people suffering from long queues, worsening famine and power cuts. India has been the main source of foreign aid to Sri Lanka this year.

The Indian High Commission on Friday reiterated that India will continue to stand with the people of Sri Lanka as they seek to realize their aspirations for prosperity and progress through democratic means, values, established institutions and constitutional framework.

India is looking forward to an early resolution of the situation related to the government and leadership of Sri Lanka through democratic means and values, established institutions and constitutional framework, an External Affairs Ministry spokesperson said in New Delhi on Thursday.

The spokesman added that India would support the people of Sri Lanka in all possible ways in their efforts to find a way forward.

The spokesman pointed out that India has responded urgently to help the people of Sri Lanka overcome their economic difficulties, and India has quickly completed and disbursed aid and assistance worth about USD 3.8 billion in 2022.

India's assistance includes currency swaps, deferment of repayment of Sri Lanka's liabilities to the Reserve Bank of India under the Asian Clearing Union Mechanism, and credit assistance of over USD 1.5 billion for fuel, food, medicines and fertilizers and other necessary goods.

With PTI inputs