India starts debt-restructuring talks with Sri Lanka

COLOMBO (News 1st) - Indian Government said on Tuesday (20) said that it had begun talks with Sri Lanka on restructuring its debt and promised to support the crisis-hit neighbor mainly through long-term investments after providing nearly $4 billion of financial aid.

Sri Lanka, a tourism-dependent South Asian country of 22 million, is struggling with its worst economic crisis in more than seven decades, which has led to shortages of essentials and the ouster of a president.