India FM in 2-day Sri Lanka visit

India's foreign minister arrives in Colombo yesterday following his country's backing of Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan.

India has told global lender IMF that it strongly supports Sri Lanka's debt restructuring plan, with Colombo owing around $1 billion to its nearest neighbour.

But Sri Lanka requires the backing of both China and India - its biggest bilateral lenders - to reach a final agreement with the IMF on the loan that is essential to help the country of nearly 22 million people emerge from its worst financial crisis in seven decades.

During his two-day visit, his third to Sri Lanka since 2021, minister Subrahmanyam Jaishankar will look to strengthen India's ties with its debt-ridden neighbour and sign several key deals.