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

Nishantha Wickremesinghe remanded (Update)

Published

2 hours ago

June 27, 2025

editor

Former Chairman of SriLankan Airlines Nishantha Wickremesinghe has been remanded until July 01.

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(Previous News : June 27, 2025 4.41pm)

2 ex-heads of govt. institutions, arrested

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has arrested two former Chairmen on corruption charges.

Former Chairman of the Fisheries Corporation – Upali Liyanage and former SriLankan Airlines Chairman – Nishantha Wickremesinghe have been arrested in this manner.

However, Liyanage, who was produced before Colombo Chief Magistrate Thanuja Lakmali Jayathunga, was released on three sureties amounting to Rs. 5 million.

News

Body of undergrad who went missing at Port City beach, found (Update)

Published

5 hours ago

June 27, 2025

editor

The body of the undergraduate who had gone missing at the Port City beach, has been found.

The body was found during a search by divers.

(Previous News on 27th June 2025 at 10.06 am)

Undergrad goes missing at Port City beach while snorkeling

A 24-year-old university student from Asgiriya, Gampaha, has gone missing yesterday morning (June 26) while swimming in the sea off the Colombo Port City beach.

According to the police, the student, a resident of Gampaha, was part of a group of students from the Universities of Colombo and Moratuwa who had visited the artificial beach and engaged in snorkelling.

The student failed to resurface, prompting a complaint to the Colombo Port Police.

Lifeguards later recovered the snorkeling gear believed to be belonging to the missing student.

A joint search operation involving Navy divers from the Colombo Port and Rangala Navy Division is currently underway. Further investigations are underway by the Colombo Port Police.