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

Ranil to appear before CIABOC on Monday

Published

2 hours ago

April 25, 2025

editor

Former President Ranil Wickremesinghe will appear before the Bribery Commission on April 28 over the statement he had made on MP Chamara Sampath Dassanayake, his lawyers have informed the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

Wickremesinghe was initially summoned by the CIABOC on April 17 in relation to a statement he had made about the bribery case filed against New Democratic Front MP Chamara Sampath Dassanayake.

News

Vijitha to attend Pope Francis’s Funeral Mass

Published

2 hours ago

April 25, 2025

editor

Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath will represent the Government of Sri Lanka at the funeral of His Holiness Pope Francis.

The late Pope’s funeral is scheduled to be held on April 26, 2025 in Saint Peter’s Square, Vatican City.

News

President makes sudden visit to Kandy (Pics)

Published

2 hours ago

April 25, 2025

editor

President Anura Kumara Disanayake last night (April 24) conducted an inspection tour of Kandy city to inspect the “Siri Dalada Wandanawa” and the related issues that have emerged.

The President held an urgent meeting with relevant officials to address issues related to the provision of facilities and sanitation for devotees visiting the “Siri Dalada Wandanawa”.

Agriculture, Livestock, Land and Irrigation Minister K.D. Lalkantha, Diyawadana Nilame of the Sri Dalada Maligawa Nilanga Dela Bandara, Acting Inspector General of Police Priyantha Weerasuriya, Army Commander Lieutenant General Lasantha Rodrigo, Governor of the Central Province Prof. Sarath Abeykoon, Kandy District Secretary Indika Udawatte and others participated in this meeting.

(President’s Media Division)