Modi realises that the political problems in neighbouring countries have to be smoothened out if profit-making has to be taken to its logical conclusion.
Modi calls document ‘India’s long-term commitment towards Sri Lanka’ and says the island nation plays an essential role in India's 'Neighbourhood First' policy.
Sri Lankan cabinet Tuesday approved proposal for the loan, which will be extended via EXIM Bank of India. India will also be supplying the country with 65,000 metric tonnes of urea.
The bankrupt nation will slash its budget expenditure to 'bare bones' and hopes to break even or post a primary surplus of 1% of GDP by 2025, Prime Minister Ranil Wickremesinghe said.
Wickremesinghe has held talks with foreign envoys and discussed ways to replenish food, fertilizer & medicine supplies. Sri Lanka needs $4 billion over next 8 months to pay for essential imports.
Islamabad is caught between the devil and the deep blue sea —it can't say no to Trump’s plan to use Pakistani troops in the stabilisation force but it can't agree to commit either.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
COMMENTS