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Which country does India support to overcome the forex crisis?
A)
Malaysia
B)
Thailand
C)
Sri Lanka
D)
Bangladesh

Correct Answer : Option (C) - Sri Lanka


India has announced a USD 900 million loan to Sri Lanka to build up its depleted foreign reserves and for food imports, amidst a shortage of almost all essential commodities in the island nation.
 
On Wednesday(12th Jan 2022), the governor of the Central Bank Ajith Nivard Cabraal said that the island nation is negotiating a USD one billion loan from India to import goods from the country.
 
The Indian High Commissioner to Sri Lanka Gopal Baglay met Cabraal on Thursday(13th Jan 2022) and “expressed India's strong support to Sri Lanka in the wake of RBI extending over USD 900 million facilities over the last week”.
 
“These comprise deferment of Asian Clearing Union settlement of over USD 509 million and currency swap of USD 400 million," the tweet said.

Source : Economic Times

Published On : January 15, 2022
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