FM Sitharaman asks IMF, World Bank to give Sri Lanka low-income tag

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.

These were the recommendations made by finance minister Nirmala Sitharaman to the International Mon­etary Fund (IMF) and World Bank last week, according to sources. This comes as India’s southern neighbour deals with its worst-ever economic crisis.

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