India has confirmed a $400 million currency swap with Sri Lanka while deferring another $500 million due for settlement to the Asian Clearing Union (ACU).
India’s assistance follows a request from Sri Lanka for emergency financial assistance, including Lines of Credit for importing essentials and a currency swap to boost Sri Lanka’s draining foreign reserves.
Sri Lanka is facing a severe dollar crunch that economists say might lead to a default on external debt and create a food shortage in the imports-reliant island nation.
India’s forest cover growth has slowed to an eight-year low in 2021, with just 0.22 per cent increase over 2019, down from 0.85 per cent in 2013 and 0.94 per cent in 2017, the highest in the last decade.
The land under forest area has grown by just 1,540 sq km over 2019, according to the Forest Survey of India’s biennial India State of Forest Report (ISFR), 2021.
Similarly, the growth in tree cover is 0.76 per cent in 2021 over 2019, the lowest rate since 2015. As of 2021, the total forest and tree cover comprises 24.62 per cent of the geographical area of the country.