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Sri Lanka signs $1 billion credit line with India

“India stands with Sri Lanka,” Indian Foreign Minister S. Jaishankar said in a tweet.

Sri Lanka’s foreign exchange reserves have fallen 70% in the past two years to about $2.31 billion, leaving it struggling to pay for imports.

The country will work with the International Monetary Fund (IMF) to find a way out of the crisis, President Gotabaya Rajapaksa said on Wednesday.

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