COLOMBO (News 1st); The World Bank has released its annual update on country income classifications, reaffirming Sri Lanka’s status as a lower-middle-income economy for the fiscal year 2026.The classification is based on Gross National Income (GNI) per capita for the previous year, calculated using ...

COLOMBO (News 1st); The Executive Board of the International Monetary Fund (IMF) has reviewed a series of noncomplying purchases made by Sri Lanka under its 2023 Extended Arrangement under the Extended Fund Facility (EFF), following the discovery of inaccurate reporting related to expenditure arrear...

COLOMBO (News 1st); Sri Lanka’s economic recovery under the International Monetary Fund (IMF)-supported program is showing promising signs of progress, according to a statement by Kenji Okamura, Deputy Managing Director and Acting Chair of the IMF Executive Board.Following the Board’s recent review ...

COLOMBO (News 1st); The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw about US$350 million, said Evan Papageorgiou, IMF Mission Chief for Sri Lanka.This brings the tot...

COLOMBO (News 1st); The World Bank has appointed Johannes Zutt as the new Vice President for the South Asia Region, effective July 1, 2025, succeeding Martin Raiser.In his new role, Zutt will oversee the World Bank’s engagement with Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka, managing...