According to US Treasury Secretary Janet Yellen on Tuesday, India’s pro-active steps have been essential in assisting Sri Lanka’s reform initiatives.
Yellen said this in Washington, DC, at the US-India Business Council Ideas Summit.
“Over the last six months, we have advanced in a variety of ways. The risk to macroeconomic stability and growth continues to come from debt distress in developing nations. For fast and thorough debt remedies, much more has to be done. However, we have made progress in key cases like Sri Lanka, where India’s aggressive activities have been essential in assisting the government’s reform initiatives. In addition, we are still urging for immediate action in other situations, she continued.
