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Sri Lanka to organize international donors conference of India, Japan & China

Sri Lanka is experiencing its worst economic crisis since its independence and needs at least US$4 billion in foreign exchange reserves to tide it through.

Sri Lanka to organise international donors conference of India, Japan & China. (Representational Image) Credits: istockphoto.com

Prime Minister of Sri Lanka, Prime Minister Ranil Wickremesinghe announced on July 5 that Sri Lanka will host an international donors conference involving three major Asian economies - India, China, and Japan, to help revive the country's sagging economy.

In the Parliament, Wickremesinghe mentioned that once a staff-level deal with the International Monetary Fund (IMF) on a bailout package is achieved, Sri Lanka would organise a donor conference of friendly nations such as India, China, and Japan. With respect to the current economic crises, the island nation is eager to form an aid consortium.

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