INDIA TO INVEST MORE IN SRI LANKA

• Sri Lanka declared a nationwide state of emergency on Wednesday, hours after President Gotabaya Rajapaksa fled the country.
• Protests against the economic crisis have simmered for months and came to a head last weekend when hundreds of thousands took over government buildings in Colombo.

After providing $3.8 billion in aid to its neighbouring Sri Lanka this year, India is ready to invest additional money there, the Indian Express newspaper was informed by New Delhi’s representative in Colombo.

Gopal Baglay, the high commissioner of India to Sri Lanka, stated that the plan was to accommodate the island nation’s demands for assistance in resolving their foreign exchange issue.

We would like to continue bringing in additional investment because it will help the Sri Lankan economy develop medium- and long-term capacity to respond.

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After President Gotabaya Rajapaksa left the country on Wednesday, Sri Lanka announced a general state of emergency.

Earlier this month, tens of thousands of men and women overran Rajapaksa’s official mansion, forcing him to flee to a military installation.

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The economic crisis has been the subject of months-long protests, which culminated this weekend when hundreds of thousands of people occupied government facilities in Colombo and demanded an end to corruption, runaway inflation, and shortages of essential supplies.