Tag Sri Lanka as 'low-income': FM Sitharaman urges IMF

Sri Lanka was classified as a middle-income country at the start of the pandemic. Sitharaman argued that given the nature of Sri Lanka's economy - dependence on income from the tourism sector, and the resultant dip in national revenues due to the pandemic - the country might be categorised as a lower-income country and helped accordingly. At the start of the pandemic, the World Bank and the IMF worked together with the G20 countries to set up the Debt Service Suspension Initiative (DSSI).

from Economy-News-Economic Times https://ift.tt/KGVWETh
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