at all times the ministry of external affairs said in new delhi on tuesday jaishankars visit to colombo is a testimony to the importance that india attaches to its close and friendly relations with sri lanka it said dimantha mathew an investment analyst said the foreign ministers visit was crucial as far as the imf facility goes india and china are the largest creditors their assurances are crucial to sri lanka clinching the imf program he said if sri lanka can get the two largest creditors to fall in line with the imf programme then sri lanka will be able to obtain the facility in its revised timeline mathew said he hoped that the first tranche of the usd 29 billion imf bailout would be immediately available once both india and china issued their assurances prerequisite for the facility mathew said the second tranche could be worked out within 68 months sri lankan officials were tightlipped on reports that india had already offered its assurances directly to the imf neither they would comment on the indian ministers brief on other projects in sri lanka such as the indian investments in the countrys energy sector as jaishankar was reported to be looking at the entire gamut of close indiasri lanka partnership and steps to strengthen it in all spheres minister jaishankar would be the messenger of good news an official said the cashstrapped country began negotiating with the imf for a bailout after having announced its firstever sovereign debt default in april last year sri lanka was hit by an unprecedented financial crisis in 2022 the worst since its independence from britain in 1948 due to a severe paucity of foreign exchange reserves sparking political turmoil in the country which led to the ouster of the allpowerful rajapaksa family