INSUBCONTINENT EXCLUSIVE:
Senthilnathan said.Sri Lanka, facing its worst economic and political crisis in over seven decades, owes $7.1 billion to bilateral
After that restructuring package will come, we will recover [our] money over a period of time
This is a situation induced by inflation and because of the fallout of (Ukraine) war
Monetary Fund (IMF) approved a $3 billion loan programme for Sri Lanka to help stabilize its economy and begin restructuring its debt
The island nation received an immediate disbursement of about $333 million under the 48-month programme approved by the IMF.Senthilnathan
added that the National Export Insurance Account, managed by the ECGC, has received close to ?4,500 crore worth of claims from exporters
facing default in countries such as Sri Lanka, Zambia, Suriname and Ghana which faced extreme economic hardships after covid-19 and the
Originally, its government had limited imports of more than 3,200 items, including seafood, electronics and even musical
instruments.Besides, its reserves have grown 26% to a 17-month high of $3.5 billion in May, helped by stronger remittances and tourism
earnings.India had earlier extended a $1 billion credit line for Sri Lanka by a year.The credit line, part of a $4 billion emergency
