June 6, 2023

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Why the Sri Lankan Prime Minister said – India’s aid is not a bailout

Image source, Reuters

Sri Lankan Prime Minister Ranil Wickremesinghe told parliament that India’s funding was not a ‘donation’.

He said the country was facing a massive economic crisis and a plan should be drawn up to repay these loans.

Sri Lanka has been facing the worst economic crisis since independence in 1948, with severe shortages of essential commodities such as food, medicine, cooking gas and fuel.

Wickremesinghe told parliament, “We have borrowed $ 4 billion under the Indian debt tax. These are not donations. “