Basil meets Indian Finance Minister

• Discuss measures to strengthen economic cooperation
• Basil appreciates India’s support in different spheres

Finance Minister Basil Rajapaksa yesterday met with the Finance and Corporate Affairs Minister of India Nirmala Sitharaman in New Delhi to further strengthen bilateral economic cooperation.

During the meeting, the two ministers exchanged views on a range of subjects pertaining to bilateral economic cooperation. 

Rajapaksa appreciated the support that India had provided to Sri Lanka in many different spheres, particularly on economic cooperation programs. 

They also discussed ways and means by which the existing bilateral economic cooperation programs between the two countries could be further developed and enhanced. 

It was the first overseas visit by Rajapaksa after assuming office as the Finance Minister. Sources claimed that the Minister was hoping to strike a deal to secure a $ 1.5 billion credit facility to counter Sri Lanka’s depleting foreign reserves.

Treasury Secretary S.R. Attygalle, Sri Lanka’s High Commissioner to India Milinda Moragoda and several other officials also participated at the discussion. Rajapaksa left on Tuesday for a two-day visit. 

An economist by profession, Sitharaman has been the Finance and Corporate Affairs Minister of India since May 2019. Prior to that, she was the Minister of Defence from 2017 to 2019. Sitharaman has also served as the State Minister of Finance and the State Minister (Independent Charge) of the Ministry of Commerce and Industry.