(BS)
Sri Lanka could be given temporary classification as a lower-income country — from the current middle-income status — to help it restructure its debt. And, it should also be given emergency funding similar to the one granted to Ukraine.
Sitharaman had actively engaged with various representatives of the multilateral institutions, including World Bank president David Malpass and IMF managing director Kristalina Georgieva in support of Sri Lanka. This was done in order to alleviate the country’s ongoing financial predicament and help it better navigate the maze of international financing rules and criteria, sources aware of the discussions said. “The minister’s interventions have been on several fronts, including the classification of Sri Lanka as a low-income country, and the treatment of Sri Lanka on par with other countries facing dire emergencies, such as Ukraine. She also made use of her position on the board of governors of the IMF to put forward Sri Lanka’s case,” said an official.
