Colombo: In a significant move aimed at further advancing and consolidating the long-standing bilateral relations between Sri Lanka and India, President Ranil Wickremesinghe is scheduled to embark on an official visit to India from July 20-21, announced the foreign ministry on Tuesday.

President Wickremesinghe's visit, which comes as both countries commemorate the 75th anniversary of their diplomatic relations, is a crucial opportunity to foster stronger ties between the two nations.

During his visit, President Wickremesinghe will engage in a series of high-level meetings with Indian dignitaries, including President Droupadi Murmu and Prime Minister Narendra Modi. The discussions will cover a wide range of mutual interests, highlighting the importance of bilateral cooperation.

This visit holds particular significance as it marks President Wickremesinghe's first trip to India since assuming office as the President of Sri Lanka last year, following the removal of Gotabaya Rajapaksa during a popular uprising in July.

President Wickremesinghe has consistently emphasized the significance of maintaining strong relations with India, making it a cornerstone of his foreign policy agenda.

Notably, in a recent statement, President Wickremesinghe, who also serves as the country's finance minister, expressed a desire for the Indian rupee to be utilized alongside the US dollar in Sri Lanka.

The timing of the visit aligns with positive signs of improvement in Sri Lanka's weak economy. In 2022, the country faced an unprecedented financial crisis, resulting in a severe shortage of foreign exchange reserves, the worst since gaining independence from Britain in 1948. In response, India extended economic support to Sri Lanka through dedicated credit lines for fuel and essential commodities.

Furthermore, Sri Lanka, which experienced its first-ever credit default in mid-April last year, successfully secured a USD 2.9 billion bailout from the IMF in March 2023, spanning over four years, contingent on implementing necessary reforms.

President Wickremesinghe's visit to India underscores the mutual commitment of both nations to strengthen their ties across various domains, thereby contributing to regional stability and prosperity.

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