Sri Lanka to seek IDA loans while remaining a middle-income country

The government stated that Sri Lanka will remain a middle-income country. Sri Lanka no longer qualifies for International Bank for Reconstruction and Development (IBRD) loans due to a downgrade of the country’s credit rating.
Therefore, the Cabinet approved a proposal yesterday (11) to request the World Bank to grant the country eligibility to obtain loans offered by the International Development Association (IDA), the Presidential Media Division said.

Daily News

2022-10-12

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SriLankan loses Rs. 12.9 b in Q1

SriLankan Airlines recorded a Rs. 12.9 billion net loss in Q1 FY25, driven by cash flow challenges, legacy issues, and financial costs from past debt. ...

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SL pays $ 503 m for 1H debt servicing

By June 2024, Sri Lanka's external debt had reached $37.5 billion, with $8.19 billion in unpaid debt service accumulating since the April 2022 debt standstill on bilateral and commercial loans.

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Workers’ remittances decline in September

In September 2024, Sri Lanka’s remittances reached $556 million, tourism earnings were $181 million, and gross official reserves rose to $6 billion, covering 3.9 months of imports.

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