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Piyush Goyal - Sri Lanka and India discuss economic recovery; HC Moragoda meets Piyush Goyal - newsfirst.lk - India - Sri Lanka
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Sri Lanka and India discuss economic recovery; HC Moragoda meets Piyush Goyal
Indian Minister of Commerce and Industry, Piyush Goyal on Tuesday (14) met Sri Lanka's High Commissioner Milinda Moragoda and discussed support for economic recovery through bilateral trade expansion.During the discussion between Minister Goyal and High Commissioner Moragoda, which was held in a very cordial manner, a wide range of issues pertaining to the areas of bilateral trade and commerce, particularly aiming at the economic recovery in Sri Lanka, was discussed, read High Commission of Sri Lanka press release.Mechanisms relating to the expansion of bilateral trade, the ways to establish and promote rupee trade between Sri Lanka and India as a means of economic recovery in Sri Lanka, and the possibility of further bilateral integration in the textiles and garment sector were among the key issues discussed between the Indian Commerce Minister and the Sri Lankan High Commissioner.Moragoda thanked India for the unprecedented support that it has extended to Sri Lanka to mitigate the negative impact of the economic crisis.Recalling India's timely issuance of financial assurances to the IMF, the first creditor to do so, High Commissioner Moragoda emphasized the key role that India could play in the recovery phase of the Sri Lankan economy, added the press release.India sent financing assurances to the International Monetary Fund (IMF), becoming the first of Sri Lanka's creditors to officially back the crisis-hit island nation's debt restructuring programme.This takes Sri Lanka one step closer to getting a crucial USD 2.9-billion package from the IMF, made contingent on "receiving financing assurances from Sri Lanka's official creditors and making a good faith effort to reach a collaborative agreement with private
Nirmala Sitharaman - Moragoda meets Indian Finance Minister ahead of G20 Finance Ministers’ Meeting - newsfirst.lk - city New Delhi - India - Sri Lanka
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Moragoda meets Indian Finance Minister ahead of G20 Finance Ministers’ Meeting
High Commissioner of Sri Lanka to India, Milinda Moragoda met with the Finance and Corporate Affairs Minister of India Smt. Nirmala Sitharaman on Tuesday (14) at the Ministry of Finance in New Delhi, as the latest of a series of meetings he has had with her since November 2021.The meeting between the Finance Minister of India and the High Commissioner of Sri Lanka took place just ahead of the first meeting of the G20 Finance Ministers scheduled to be held on 24-25 February 2023 in Bengaluru, chaired by Minister Sitharaman.During the discussion, High Commissioner Moragoda once again thanked Minister Sitharaman for the unprecedented emergency assistance that India has extended to Sri Lanka and for the timely issuance of India’s financial assurances to the International Monetary Fund, concerning the country’s debt restructuring process.The High Commissioner also thanked India and Minister Sitharaman for the assistance being provided to Sri Lanka in the present economic recovery phase, in particular for the necessary regulations and approvals that are being set in place to facilitate rupee trade between the two countries. The discussion also focused on the ways and means to utilize the available resources in the 1 billion USD Indian line of credit to import urgently required essential pharmaceuticals, which are in short supply in Sri Lanka.
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