Basil heads to India seeking US$ 1 billion

March 15, 2022 at 3:00 PM

Minister of Finance Basil Rajapaksa left for India today (15) on a two-day official state visit. 

Minister Rajapaksa has been accompanied by Secretary to the Finance Ministry S.R. Attygalle. 

The Finance Minister is expected to sign a US$ 1 billion credit line with India during his visit. 

Sri Lanka is set to obtain the credit line in order to pay for essential items, including medicine, wheat flour, sugar, and rice. 

The Government has been in talks with several countries in a bid to resolve the economic crisis faced by the nation at present.

A shortage of US dollars has resulted in an increase in the cost of living and a lack of fuel, gas, power, and other essential items. (NewsWire)