Unless sri lanka can reach an agreement with the IMF in the next four months, it would require substantially more financial assistance for imports. india has played a critical role in assisting sri lanka, which is experiencing its worst economic crisis in history. Meanwhile, ANI reported, citing trustworthy sources, that Colombo has asked New delhi to offer bridge funding till sufficient monies from the international Monetary Fund are received (IMF). The IMF's assistance might take three to four months.

This information came following many discussions between Finance minister nirmala sitharaman and her Sri Lankan counterpart and High Commissioner. sri lanka has also asked india to utilise its clout with friendly countries like japan to help Colombo with a Line of Credit, according to sources. In addition, he has urged india to seek assistance from multilateral organisations.

India's response to Sri Lanka's request is positive.

According to a person familiar with the situation, Finance minister nirmala sitharaman supports the suggestion. The indian government is expected to contact other friendly countries to offer assistance to sri lanka, which is experiencing an economic and political crisis. In the meantime, Sri Lanka's Finance minister Ali Sabri is expected to meet with his indian counterpart nirmala sitharaman in Washington next week.

Sri Lanka has received a $2.4 billion credit line from india for food, fuel, pharmaceuticals, currency swaps, and payment delays at the Asian Clearing Union. However, unless sri lanka and the IMF reach an agreement in the next four months, the island government will require substantially more financial assistance for imports.

Apart from that, detailed talks on debt and multilateral cooperation are taking place between Sri Lankan President Gotabaya Rajapaksa's advisory group and India's Chief Economic Adviser v Ananda Nageswaran. On Monday, sri lanka will begin discussions with the IMF. Colombo has attempted to offer bridging money during this period, which is expected to take four months.