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The Hindu
The Hindu
National
PTI

India extends additional $500 million credit line to Sri Lanka for purchasing fuel

Sri Lanka Ali Sabry India International Monetary Fund
Sri Lanka economic crisis

India has agreed to extend an additional $500 million credit line to help Sri Lanka import fuel, Finance Minister Ali Sabry said, amid delays in chalking out a bailout package with the IMF to mitigate the dire financial crisis facing the island nation.

Sri Lanka has been struggling to pay for imports after its foreign exchange reserves plummeted sharply in recent times, causing a devaluation of its currency and spiralling inflation.

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