Cabinet nod given to voluntarily downgrade SL’s income status
Cabinet nod has been given to demote Sri Lanka to a lower income status, a step that is taken with the aim of having more access to financial assistance, loans and concessions.
Indian External Affairs Minister S. Jaishankar said today that India has extended financing assurances to the IMF to clear the way for Sri Lanka to move forward because India felt strongly that Sri Lanka’s creditors must take proactive steps to facilitate its recovery.
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