Tamil Nadu Chief Minister M K Stalin had flagged off the ship laden with relief supplies, the first to be dispatched to Sri Lanka, from Chennai on Wednesday.
Sri Lanka is seeking to restructure debts of more than $50bn it owes to foreign creditors to make it more manageable to repay.
Going through its worst economic crisis, Sri Lanka on Monday was engulfed with violence after supporters of resigned Prime Minister Mahinda Rajapaksa attacked the peaceful protesters, who are on the streets for more than a month now, raising their voice against the severe economic crisis the country is going through.
The island nation has been witnessing widespread protests in the last few days.
Rajapaksa had declared emergency on April 1 also after a mass protest opposite his private residence. He had revoked it on April 5.
As the eyes of the world turn to other conflicts, Syria is on the verge of becoming a forgotten crisis. Yet millions of Syrians struggle each month to survive. For many, their situation has never been direr since the civil war erupted in 2011, she told the Security Council on Tuesday.
With the economic crisis and the shortage of forex, an Indian credit line of USD 500 million for fuel imports provided a lifeline to the island nation.
Rajapaksa also justified the public anger over the unbearable cost of living, but refused to give up his post despite mounting public pressure around the country with massive protests demanding him to step down.
Sri Lanka In Turmoil: Tracking The Collapse & Chaos
The debt servicing suspension will be in force for an interim period pending an orderly and consensual restructuring consistent with the proposed arrangement with the IMF.
WATCH | Protest Continue To Erupt In Crisis-Torn Sri Lanka
Speaking in Parliament on Wednesday, Chief Government Whip Johnston Fernando said the government will face this problem and there is no reason for President Gotabaya Rajapaksa to resign as he was elected to office.
Soon after the government lost the majority power on Tuesday, Tamil National Alliance (TNA), the main Tamil party representing Tamils from the North and East of the island nation, questioned continuity of Emergency regulation.
More ministers will be sworn into the cabinet in the coming days if the opposition parties agree to form a united government, government officials said.
The consignment forms part of the 300,000 tonnes of rice that will be shipped to Sri Lanka in the coming months.
The government declared a state of emergency after an angry mob surrounded the private residence of Rajapaksa on March 31.
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New Delhi: Finance Minister Nirmala Sitharaman on Friday proposed to establish an organisation to provide credit enhancement for infrastructure and housing projects with an aim to enhance fund flows towards such projects. Announcing steps to prop up the slowing economy, the minister said that in order to improve domestic bond market, the finance ministry will […]
Ahmedabad: The Amul Dairy has increased milk procurement prices by Rs 10 on a kg of fat for buffalo milk and Rs 4.5 in the case of cow milk following a drop in production because due to summer heat, official sources said. The daily milk income of Amul Dairy was 30 lakh litres in the […]
Caracas: Thousands of children and young people have dropped out of Venezuela’s schools and universities as the oil-rich nation’s economic crisis deepens. Juan Maragall, education secretary in the northern coastal state of Miranda said that in his jurisdiction alone, roughly 10,000 students have walked away, representing 9 per cent of primary-school enrolment and 13 per […]
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