Downloaded from: justpaste.it/6446m
How is Sri Lanka's economic crisis affecting
India?
Refugees from Sri Lanka are trickling in on India's southern shores. The effect of Sri
Lanka's economic crisis is now being felt in India too. Find out how its economic
condition is hitting India too
Inflation has soared past 17%. People are dying while waiting in
queues for fuel, and authorities are scrapping school exams after
running out of dollars to import paper and ink. Sri Lanka is going
through its worst economic crisis since its Independence. And
the ripples are now being felt in India too. Driven out by hunger
and loss of jobs, people from the island nation are seeking refuge
in India, which is doing its best to help the neighbouring country.
India has extended financial assistance to the tune of $2.4 billion
in the last three months to Sri Lanka, which includes a $400 billion
RBI currency swap, deferral of a $500 million loan and a $1.5-
billion credit line for importing fuel, food and medicines. In addition
to an International Monetary Fund Bailout, the southern neighbour
has sought credit support of $2.5 billion from China...Read More