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Reuters
Reuters
Business
By Uditha Jayasinghe

Sri Lanka to keep 'middle-income' status but seek concessional loans

FILE PHOTO: A general view of the main business district as rain clouds gather above in Colombo, Sri Lanka, November 17, 2020. REUTERS/Dinuka Liyanawatte

Sri Lanka will remain a middle-income country but request the World Bank to grant it some loans generally offered to poorer nations, the president's office said on Tuesday, clarifying a cabinet spokesperson's earlier comments on the matter.

The island nation of 22 million is facing its worst economic crisis in more than seven decades and the spokesperson said earlier in the day that the government would seek to change its economic status to "low income country" for easier funding.

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