SL seeks further $1 billion credit line from India – Reuters

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Sri Lanka has sought an additional credit line of $1 billion from India to import essentials amid its worst economic crisis in decades, Reuters reports quoting two sources.

New Delhi has indicated it would meet the request for the new line, to be used for importing essential items such as rice, wheat flour, pulses, sugar and medicines, said one of the sources briefed on the matter.

“Sri Lanka has requested an additional $1 billion credit line from India for imports of essentials,” the second source was quoted as saying by Reuters.

“This will be on top of the $1-billion credit line already pledged by India.”

Both sources declined to be identified as the discussions were confidential.

The finance and foreign ministries of Sri Lanka, as well as India’s foreign ministry, did not immediately respond to requests seeking comment.

“India is also very supportive of Sri Lanka’s decision to seek an IMF programme and has given their fullest support,” one of the sources added.