EAM S. Jaishankar highlighted India’s support for Sri Lanka during its economic crisis, providing over $4 billion in aid. He emphasized mutual responsibilities among neighboring countries while underlining India’s commitment to Sri Lanka’s recovery through policies like Neighbourhood First and SAGAR. Jaishankar’s visit marks a significant step in strengthening bilateral ties amidst ongoing economic difficulties in Sri Lanka.
External Affairs Minister S. Jaishankar addressed the critical economic situation in Sri Lanka during his speech at Chatham House in London. He noted that the Indian government, led by Prime Minister Narendra Modi, provided over $4 billion to aid Sri Lanka during its economic crisis in 2022, which had also led to a significant political upheaval.
Jaishankar emphasized India’s long-standing support for Sri Lanka, stating that while India is a larger and generous economy, it also expects its neighbors to respect mutual interests. He articulated that the aid given was nearly double that of the International Monetary Fund’s assistance, highlighting the unique commitment India has toward its neighboring countries.
As the first foreign dignitary to visit Sri Lanka since the inauguration of the new government, Jaishankar reiterated India’s commitment to assist in the country’s economic rebuilding through its Neighbourhood First Policy and SAGAR (Security and Growth for All in the Region) approach.
Sri Lanka’s financial turmoil peaked in April 2022, resulting in its first sovereign default since 1948 and leading to considerable instability. Following this, India provided nearly $4 billion in assistance as Sri Lanka defaulted on more than $51 billion in foreign loans. The visit was aimed at reinforcing the bilateral relationship between India and Sri Lanka for mutual benefit, aligning with India’s strategic policies.
In previous meetings, such as with President Anura Kumara Dissanayake on a state visit to New Delhi, Jaishankar expressed optimism for strengthening Indo-Sri Lankan cooperation. His engagements in Colombo earlier further reflected ongoing discussions to enhance ties, ensuring both nations’ populations can benefit from a cooperative approach.
In summary, India’s External Affairs Minister S. Jaishankar has reaffirmed India’s commitment to Sri Lanka amidst its economic challenges, emphasizing the importance of mutual responsibilities in bilateral relationships. The financial support extended by India reflects its strategic intention to stabilize its neighboring country while expecting reciprocity in recognizing India’s interests. Overall, the continued collaboration is guided by policies aimed at fostering regional growth and security.
Original Source: www.socialnews.xyz
