NDA Coaching Institute Lucknow | Best NDA Coaching in Lucknow
Top NDA Coaching Institute Lucknow | Best NDA Coaching Institute Lucknow | No-1 NDA Coaching Institute Lucknow |
INDIA EXTENDS AN ADDITIONAL $500 MILLION CREDIT LINE TO SRI LANKA FOR PURCHASING FUEL
Sri Lanka needs at least $4 billion to tide over its mounting economic woes
India has agreed to extend an additional $500 million credit line to help Sri Lanka import fuel, Finance Minister Ali Sabry said, amid delays in chalking out a bailout package with the IMF to mitigate the dire financial crisis facing the island nation.
Sri Lanka has been struggling to pay for imports after its foreign exchange reserves plummeted sharply in recent times, causing a devaluation of its currency and spiraling inflation.
“India has agreed to provide an additional $500 million for our fuel imports,” Mr. Sabry said on Friday while adding that he was hopeful that New Delhi would consider handing out another $1 billion dollars as a credit line.
India has already agreed to defer $1.5 billion in import payments that Sri Lanka needs to make to the Asian Clearing Union.
On Friday, New Delhi has also extended the tenure of a $400 million swap given in January this year, the Indian High Commission said.
Mr. Sabry is currently in Washington to negotiate a program with the International Monetary Fund (IMF).
The finance minister said that talks have begun on an Extended Fund Facility, but the finer details of the program are yet to be finalized.
Sri Lanka needs at least $4 billion to tide over its mounting economic woes, and Mr. Sabry has been holding talks with international institutions such as the World Bank as well as countries like China and Japan for financial assistance.
“It will be a difficult period in the next nine months. During that time there is a need to bring in more investments in U.S. dollars into the central bank. We are talking with several countries. If these efforts are successful, and if the investment of about $2 billion comes to the central bank, it will help stop the depreciation and stabilize the rupee,” Mr. Sabry said.
On April 12, Sri Lanka suspended its debt servicing for the first time in its history.
Last week, the Sri Lankan government said it would temporarily default on $35.5 billion in foreign debt as the pandemic and the war in Ukraine made it impossible to make payments to overseas creditors.
Sri Lanka has been witnessing mass anti-government protests in recent weeks as it suffers food shortages, soaring fuel prices, and major power cuts due to the unprecedented financial crisis.
Warriors Defence Academy is the Best Defence Coaching India. We provide an outstanding preparatory education for the entrance examinations to get into the Indian armed forces.
Since our inception 7 years ago, below the captaincy of one of India’s main youngest entrepreneurs – Mr. Gulab Singh. Hundreds of our candidates have been chosen and many of whom have attained pinnacle ranks in ultimate UPSC merit.
- The institute has fairly certified and reputed group instructors each thoroughly committed to supplying unparalleled schooling for NDA/CDS/SSB/AFCAT/CAPF. #Defence Coaching India
- The undertaking of educating transcends the lecture rooms so as to inform the college students to recognize their perfect potential and to inspire them to optimize their results.
- Involvement and excellence in greater curricular things to do like SSB guidance, character development, debates, group games, lecture, and so on characteristics in the training.
- Our goal at the academy is to make college students imbibe self-discipline and groom ethical and moral values. Come, be a phase of this success story, and fulfill your want for becoming a member of the reputed Indian Armed forces and serving the nation. #Defence Coaching India
Best NDA Academy in Lucknow | Join WDA Lucknow – Warriors Defence Academy deeply appreciative and provide you our most grateful welcome. We are glad to announce that Ex. GTO Officer Colonel R. K. Tiwari Sir going to Join our Academy to Guide NDA and CDS aspirants For SSB. WDA is the Best NDA and SSB Coaching in Lucknow India. #Defence Coaching India
Warriors Defence Academy is the Best NDA Coaching in Lucknow. We are the Leading Coaching Institute for NDA/CDS/AFCAT/Army/Air Force/Navy Located in Lucknow. Warriors Defence Academy has the Largest GTO Ground in India. The Aspirants of Defence Services are guided via Ex. Defence Officers. WDA was additionally Awarded as Best NDA Academy in Lucknow. #Defence Coaching India
Address: 545-GA/1-CHHA, Chandganj Garden Road, beside Madhuwan Guest house, near Railway crossing, Kapoorthla, Bara Chandganj, Chandralok, Lucknow, Uttar Pradesh 226006
Website: https://warriorsdefenceacademy.com/
Website: https://www.warriorsndaacademy.com/
Call Now: 07081011964