India has much to gain from helping Sri Lanka | Mint Primer | Mint

After China, Sri Lanka's last major creditor, agreed to restructure its bilateral debt, the IMF gave the island nation a $3 billion conditional loan to access $4 billion from other multilateral lenders. The IMF has disbursed $333 million, the first tranche of a four-year loan, if Sri Lanka implements its reform package. The Sri Lankan envoy, who met India's finance minister Nirmala Sitharaman, noted that India was the first bilateral creditor to restructure its loan.