India extends $1 billion credit line for Sri Lanka by a year

India extends $1 billion credit line for Sri Lanka by a year

Daily Current Affairs / India extends $1 billion credit line for Sri Lanka by a year

Change Language English Hindi

Category : International Published on: May 11 2023

Share on facebook

India has extended a $1 billion credit line for Sri Lanka by one year.
The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka's financial crisis early last year, was scheduled to end in March.
Post-negotiations, the credit line was extended until March 2024
Sri Lanka, which faced its worst financial crisis in decades, experienced slump in its forex reserves last year and struggled to pay for crucial imports such as fuel, cooking gas, and medicine.
However, the situation has improved since then, with Sri Lanka securing a nearly 3 billion USD bailout package from the International Monetary Fund in March and initiating debt restructuring talks with key bilateral creditors including India, Japan, and China.

Recent Post's

The 7th National Sub-Junior Boxing Championship was inaugurated by Union Minister Nitin Gadkari in Nagpur with nearly 600 young boxers participating.
Read More....
Researchers discovered the first freshwater fish fossils in the Shivalik foothills near Mohand, Dehradun, dating back 4.5 million years.
Read More....
A 16-year-old Juang tribal girl from Odisha has influenced her village to rethink practices related to child health and child marriage.
Read More....
The 128th Enforcement Task Force meeting under CAQM was held to review measures for controlling air pollution in Delhi-NCR.
Read More....
Murali Sreeshankar won the men’s long jump at the Indian Athletics Series 2026 with a leap of 8.15 metres at Kanteerava Stadium.
Read More....
The Gujarat High Court has banned the use of Artificial Intelligence in judicial decision-making, drafting judgments, or assisting in judicial reasoning.
Read More....
Sadhana Saptah 2026 was launched from 2 to 8 April 2026 under Mission Karmayogi to strengthen citizen-centric governance.
Read More....
The Income Tax Department launched ‘Kar Saathi’, an AI-powered platform to simplify tax filing and provide 24×7 assistance to taxpayers.
Read More....
At Chetak Screen Awards 2026, film Dhurandhar bagged 14 awards while Homebound won the Best Film award.
Read More....
The National Statistics Office launched the first Annual Survey of Incorporated Services Sector Enterprises (ASISSE) for 2024-25.
Read More....