Indian Prime Minister Narendra Modi says that India has been greatly sensitive to the needs of Sri Lanka.
During an interview with the Indian news agency ‘PTI’, Prime Minister Modi said, “We have also been greatly sensitive to the needs of our valued neighbour, Sri Lanka, during their tough times.”
The remarks were made while discussing the debt crisis faced by a number of countries.
Prime Minister Modi noted that the debt crisis is a matter of great concern for the world, especially developing countries, such as Sri Lanka.
He said India’s G20 Presidency has placed a significant emphasis on addressing the global challenges posed by debt vulnerabilities, especially for nations in the Global South.
The Indian Premier added that G20 Finance Ministers and Central Bank Governors have acknowledged the good progress in debt treatment of Common Framework countries and beyond the Common Framework too.
Indian Prime Minister Narendra Modi said in order to accelerate global debt restructuring efforts, the Global Sovereign Debt Roundtable, a joint initiative of the International Monetary Fund, World Bank and the G20 Presidency was launched earlier this year.
He stated that the roundtable will strengthen communication among key stakeholders and facilitate effective debt treatment.
