‘India stands with Sri Lanka': MEA amid massive protests in island nation over economic crisis

"India stands with the people of Sri Lanka as they seek to realise their aspirations for prosperity and progress through democratic means and values, established institutions and constitutional framework," MEA said in a statement.

Credits: Reuters

New Delhi: As anti-government protesters continue to take their demands to the streets of Sri Lankan and occupy President Gotabaya Rajapaksa's official residence, India on Sunday (July 10, 2022) said that it stands with the people of Sri Lanka. The Ministery of External Affairs (MEA) in a carefully crafted statement said, "India stands with the people of Sri Lanka as they seek to realise their aspirations for prosperity and progress through democratic means and values, established institutions and constitutional framework."

MEA also informed that the country has extended financial aid of over US$ 3.8 billion to the island nation as it battles its worst economic crisis. “India has extended this year itself an unprecedented support of over US$ 3.8 billion for ameliorating the serious economic situation in Sri Lanka. We continue to follow closely the recent developments in Sri Lanka,” MEA said. 

India stands with the people of Sri Lanka as they seek to realize their aspirations for prosperity and progress through democratic means and values, established institutions and constitutional framework: Ministry of External Affairs — ANI (@ANI) July 10, 2022

Maintaining that India is Sri Lanka's closest neighbour, MEA spokesperson Arindam Bagchi said, "We are aware of the many challenges that Sri Lanka and its people have been facing, and we have stood with the Sri Lankan people as they have tried to overcome this difficult period."

"India is Sri Lanka's closest neighbour and our two countries share deep civilizational bonds," it added.

Meanwhile, Sri Lanka, a country of 22 million people, is under the grip of an unprecedented economic turmoil, the worst in seven decades, crippled by an acute shortage of foreign exchange that has left it struggling to pay for essential imports of fuel, and other essentials.

The country, with an acute foreign currency crisis that resulted in foreign debt default, had announced in April that it is suspending nearly USD 7 billion foreign debt repayment due for this year out of about USD 25 billion due through 2026. Sri Lanka's total foreign debt stands at $51 billion.