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Sri Lanka Seeks Loan from India

Published on October 19, 2021
Current Context: The Government of Sri Lanka has sought a credit line from India in order to pay its purchases of crude oil.
Sri Lanka Seeks Loan from India
  • In this regard, Sri Lanka has sought a USD 500 million loan from India.
  • Currently, Sri Lanka is facing a severe foreign exchange crisis because the pandemic has badly hit the economy of the island nation.
  • The credit line of USD 500 million is a part of the India-Sri Lanka economic partnership.
  • The island nation will use the loan amount to procure petrol and diesel requirements.
  • Static Part: 
    • Capital of Sri Lanka: Sri Jayawardenepura Kotte
    • Currency of Sri Lanka: Sri Lankan rupee
    • Prime Minister of Sri Lanka: Mahinda Rajapaksa
    • President of Sri Lanka: Gotabaya Rajapaksa.


Q.1 Which country sought USD 500 million loans from India to purchase their crude oil requirements?
a. Indonesia
b. Sri Lanka
c. Bhutan
d. Bangladesh

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