• The Finance Minister’s visit assumes significance in the backdrop of negotiations sought by Colombo for an Indian credit line to pay for the island’s fuel purchases
• Rajapaksa would not ask for India for loans but would seek enhancement of Indian investments

Finance Minister Basil Rajapaksa will visit India to hold talks with Indian Prime Minister Narendra Modi, Foreign Minister GL Peiris said yesterday.  

His will visit India in the next few days, Peiris told reporters, adding that the schedule is being worked out jointly with the Indian High Commission in Colombo, according to the CNN-News18.  Finance Minister Rajapaksa’s visit assumes significance in the backdrop of negotiations sought by Colombo for an Indian credit line to pay for the island’s fuel purchases. Last week, Sri Lanka temporarily shut down its only oil refinery for 50 days following the non-availability of crude oil supplies due to the ongoing severe foreign exchange crisis in the country.