News

SL to remain as a middle-income country – PMD

Published

3 years ago

October 11, 2022

editor

The government stated that Sri Lanka will remain a middle-income country.

Sri Lanka no longer qualifies for International Bank for Reconstruction and Development (IBRD) loans due to a downgrade of the country’s credit rating.

Therefore, the Cabinet approved a proposal yesterday (10) to request the World Bank to grant the country eligibility to obtain loans offered by the International Development Association (IDA).

This is with the aim of obtaining concessionary funding from the International Development Association (IDA) – an arm of the World Bank that helps the world’s vulnerable countries. This facility is called “Gap”.

Twelve countries including Indonesia have availed themselves of this facility when they were facing an economic downturn similar to Sri Lanka. The Government is pursuing a “reverse graduation” policy for a limited period of time.

Earlier today (11), Cabinet Spokesman Bandula Gunawardena said that the Cabinet has granted approval to the proposal to downgrade Sri Lanka’s status from Middle Income Country to a Low Income Country to facilitate future loans following the information provided by world organizations.

News

03 vehicles collide at railway crossing

Published

9 hours ago

May 21, 2025

editor

03 vehicles have collided at the Merawala railway crossing on the Chilaw-Colombo main road.

The accident occurred at around 6.25 a.m. this morning (May 21) when a van, which had stopped behind a fuel bowser at the Chilaw Marawala railway crossing while it was closed for train traffic, was rear-ended by a prime mover transporting cement.

The prime mover had been unable to stop due to brake failure.

The van involved in the accident sustained significant damage and Chilaw Police are currently conducting further investigations.

(Pic: Accident 1st)

News

Ramith Rambukwella arrives before CIABOC

Published

9 hours ago

May 21, 2025

editor

Ramith Rambukwella – son of former Minister Keheliya Rambukwella arrived at the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) earlier today (May 21) to record a statement.

Colombo Chief Magistrate Thanuja Lakmali yesterday (May 20) ordered the further remand of Keheliya Rambukwella until June 03, following his arrest by the CIABOC over 03 complaints related to alleged corruption.

The court also granted permission to name Ramith Rambukwella as a suspect in the case.

News

Mahindananda seeks permission for home cooked meals

Published

9 hours ago

May 21, 2025

editor

Former Minister Mahindananda Aluthgamage, who is currently in remand custody, has submitted a written request to prison authorities seeking permission to receive food from his home.

He is currently being held at the “M 2” ward of the Colombo Remand Prison along with around 10 other prisoners, according to reports.

It is also reported that former minister Keheliya Rambukwella is being detained in the same ward.