sri lanka financial crisis


Indian Finance Minister Nirmala Sitharaman has said Sri Lanka’s progress so far with regards to the agreement reached with the International Monetary Fund (IMF) has been encouraging. The Indian Finance Minister has stated this while addressing the meetings of the World Bank and the International Monetary Fund. She pointed out that although Sri Lanka is classified as a middle-income country, it was classified as a low-income country after the recent economic crisis, so it could not be addressed in the general framework. The Finance Minister noted, however, that when compared to many other countries, the speed with which Sri Lanka is getting its resolutions through the IMF is “very good”, and “speedy compared to the common framework”.