New Delhi: Sri Lanka is grappling with the country's worst economic crisis since independence in 1948 which plunged into turmoil after public agitations erupted over the weekend. Protesters were seen storming into the Presidential Palace and Residence in Colombo and setting fire to PM Ranil Wickremesinghe's private residence creating havoc in the country.
Meanwhile, in the backdrop of the worst financial crisis in Sri Lanka, India is one country that has stood by the island nation, ever since the crisis reached a boiling point a few weeks ago. This also can be seen as an advantage for New Delhi as it can taper off at least some influence China had gained over Sri Lanka in the last few years.
Sharing his perspective, India's former ambassador Jitendra Tripathi said, "India's unprecedented support to Sri Lanka is praiseworthy. Last year, the Sri Lankan govt decided to ban inorganic fertilisers and permitted organic fertilisers, which were imported since it was not available in Sri Lanka. But the fertilizer was proved to be contaminated, without money being refunded to Sri Lanka.
And India had to send organic fertilizers to assist Sri Lanka at that time of crisis. Apart from that, India also provided $500 million of assistance with, long-term loans to Sri Lanka. The country was steadfast in sending medicines, fuel, diesel and another instalment of fertilisers to the Island nation. On the contrary, China has done only lip service and no concrete assistance has come from the Chinese side and that is where India has scored overture", Tripathi added.
Tripathi pointed out that China's presence and importance have been at a low, thereby making India a bigger partner in the Sri Lankan crisis. 'India and Sri Lanka ties are bound to become better in the days to come because Sri Lankan politicians and the public at large have realised that they are exposed to the Chinese game plan. Now, it has been called the farce of the Chinese debt trap and this is why they are back to welcome India again," the former envoy said.
India's concerted efforts to assist Sri Lanka to deal with the worst crisis stand in contrast to the fact that the Chinese debt trap and growing influence have pushed the island nation to such a mess.
Earlier today, Sri Lankan Prime Minister Ranil Wickremesinghe held a cabinet meeting with all the ministers at Prime Minister's office, soon after President Rajapaksa, Gotabaya informed the Sri Lankan PM that he is officially resigning from the post. Prime Minister Wickremesinghe’s office said all members of the cabinet have agreed to hand over their responsibilities to a new all-party government as soon as it is formed.
“All the ministers who participated in the discussion thought that as soon as there is an agreement to form an all-party government, they are ready to hand over their responsibilities to that government,” the Prime Minister’s office said. Taking a very cautious approach, the Ministry of External Affairs on Sunday said, "In pursuance of the central place that Sri Lanka occupies in our Neighbourhood First policy, India has extended this year itself unprecedented support of over US$ 3.8 billion for ameliorating the serious economic situation in Sri Lanka.
We continue to follow closely the recent developments in Sri Lanka. India stands with the people of Sri Lanka as they seek to realize their aspirations for prosperity and progress through democratic means and values, established institutions and constitutional framework", MEA spox said.
Pertinently, from extending a $500 million line of credit for fuel imports to offering $1 billion in assistance for the procurement of essentials, India's support has helped Sri Lanka ward off the worst of its crisis.
