New Sri Lankan Prime Minister Wickremesinghe visited by Indian delegation
13 May, 2022 | Riya Girdhar
On Thursday, Wickremesinghe, 73, was sworn in as Sri Lanka's 26th prime minister, with the goal of restoring stability to the country's debt-ridden economy and ending political unrest.
According to sources here, Indian High Commissioner Gopal Baglay became the first foreign ambassador to meet with new Sri Lankan Prime Minister Ranil Wickremesinghe on Friday and reviewed the country’s current condition amid the world’s worst economic crisis.
On Thursday, Wickremesinghe, 73, was sworn in as Sri Lanka’s 26th prime minister, with the goal of restoring stability to the country’s debt-ridden economy and ending political unrest. Baglay paid a visit to Wickremesinghe shortly after the latter began working in his office on Friday, according to sources in the Prime Minister’s office.
They reviewed the country’s current position in the midst of the country’s worst economic crisis since its independence in 1948.
Since January, India’s economic aid package has kept Sri Lanka afloat during its greatest economic crisis since independence. As Sri Lanka’s foreign reserves deteriorated, India provided credit lines for the purchase of petrol and other necessities.
Since January of this year, India has pledged more than USD 3 billion to debt-ridden Sri Lanka in the form of loans, credit lines, and credit swaps. Sri Lanka declared insolvency in mid-April, stating its inability to satisfy foreign financial obligations.
India said on Thursday that it looks forward to working with the new Sri Lankan government, which was created through democratic processes, and that New Delhi’s commitment to the island’s people will remain unchanged.