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India backs Sri Lanka to secure IMF bailout plan amid crisis

Government doctors protest against newly introduced tax reforms, outside the president's office in Colombo, Sri Lanka, Friday, Jan. 20, 2023. against newly introduced tax reforms, outside the president's office in Colombo, Sri Lanka, Friday, Jan. 20, 2023. Sri Lanka has a total foreign debt of $51 billion and it must pay back $28 billion by 2027. However, the island nation announced it was suspending repayment of $7 billion that was due last year amid a serious foreign currency shortage. (AP Photo/Eranga Jayawardena) Government doctors protest against newly introduced tax reforms, outside the president's office in Colombo, Sri Lanka, Friday, Jan. 20, 2023. Sri Lanka has a total foreign debt of $51 billion and it must pay back $28 billion by 2027. However, the island nation announced it was suspending repayment of $7 billion that was due last year amid a serious foreign currency shortage. (AP Photo/Eranga Jayawardena) University teachers participate in a protest against newly introduced tax reforms, outside the president's office in Colombo, Sri Lanka, Friday, Jan. 20, 2023. Sri Lanka has a total foreign debt of $51 billion and it must pay back $28 billion by 2027. However, the island nation announced it was suspending repayment of $7 billion that was due last year amid a serious foreign currency shortage. (AP Photo/Eranga Jayawardena) Government doctors show placards during a protest against newly introduced tax reforms, outside the president's office in Colombo, Sri Lanka, Friday, Jan. 20, 2023. Sri Lanka has a total foreign debt of $51 billion and it must pay back $28 billion by 2027. However, the island nation announced it was suspending repayment of $7 billion that was due last year amid a serious foreign currency shortage. (AP Photo/Eranga Jayawardena) Police officers stop a bus carrying university teachers protesting against newly introduced tax reforms outside the president's office in Colombo, Sri Lanka, Friday, Jan. 20, 2023. Sri Lanka has a total foreign debt of $51 billion and it must pay back $28 billion by 2027. However, the island nation announced it was suspending repayment of $7 billion that was due last year amid a serious foreign currency shortage. (AP Photo/Eranga Jayawardena) Police officers stop a bus carrying university teachers protesting against newly introduced tax reforms outside the president's office in Colombo, Sri Lanka, Friday, Jan. 20, 2023. Sri Lanka has a total foreign debt of $51 billion and it must pay back $28 billion by 2027. However, the island nation announced it was suspending repayment of $7 billion that was due last year amid a serious foreign currency shortage. (AP Photo/Eranga Jayawardena) This handout photo provided by Sri Lankan President's Office shows President Ranil Wickremesinghe, right, shake hands with India’s Foreign Minister S. Jaishankar in Colombo, Sri Lanka, Friday, Jan. 20, 2023. Jaishankar said Friday his country has given financial assurances to the International Monetary Fund to facilitate a bailout plan to help neighboring Sri Lanka emerge from its worst economic crisis, in a first formal announcement from one of the island nation’s creditors. (Sri Lankan President's Office via AP)