A shipment of 11,000 MT of rice from India arrived in Colombo on Tuesday to help the economic crisis hit Sri Lankans celebrate the traditional national new year. Sri Lankans will celebrate Sinhala and Tamil New Year on April 13 and 14. This is one of the biggest festivals in Sri Lanka.
The shipment of rice from India reached Colombo on board ship, ahead of the New Year celebration by the people of Sri Lanka, an Indian High Commission statement said. Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948. “16,000 MT rice supplied under India’s multi-pronged support to Sri Lanka in the past week alone,” the statement said.
These supplies, which mark the special bond between India and Sri Lanka, will continue, the Indian High Commission added. India had recently announced a USD 1 billion line of credit to Sri Lanka as part of its financial assistance to the country to deal with the economic crisis following a previous USD 500 billion line of credit in February.
11,000 MT rice from India reached Colombo on board ship Chen Glory today ahead of New Year celebration in Sri Lanka.16,000 MT rice supplied by India to Sri Lanka in the past week itself.These supplies which mark special bond b/w 2 nations will continue:Indian Embassy in Sri Lanka pic.twitter.com/F7x8cj675W– ANI (@ANI) April 12, 2022
Indian credit lines to boost reserves and importation of essentials have provided a temporary lifeline to the economy. People in the country are experiencing a shortage of essentials and long hours under power cuts.
The government has just started a process to seek a bailout from the International Monetary Fund (IMF) amidst street protests throughout the island calling for President Gotabaya Rajapaksa’s resignation for mishandling the economic crisis.