World Bank downgrades Sri Lanka

2 July 2020 04:33 pm - 14 - {{hitsCtrl.values.hits}}

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Sri Lanka has been downgraded by the World Bank to a lower middle income country from an upper middle income one in their latest country classification by income levels released on July 1.

Sri Lanka was upgraded to an upper middle income country exactly a year ago.

Sri Lanka’s per capita GNI has declined to US 4, 020 by July 1, 2020 from US $ 4, 060 a year earlier.

The World Bank said the latest income classifications use the GNI of the previous year (2019). Thus the GNI numbers that are used for this year’s classification do not yet reflect the impact of COVID-19.

The World Bank classifies countries based on GNI per capita in four categories includes low income ($1,035), lower-middle income ($1,036 – $4,045), upper middle income ($4,046 – $12,535 ) and high income (> $12,535).

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Comments - 14

BigEars Thursday, 02 July 2020 04:56 PM

Oops! Now Uncle - will be furious. In a county where people are expected to survive for 2 month with around US $ 25 what more can we expect. Gota may want to give the CB officials another of his idiotic bashing.

BigEars Thursday, 02 July 2020 04:58 PM

Oh! This may be the international conspiracy Ali Baba was referring to. So called patriots wake and protest in front of the Fort Railway Station, sorry correction, in front of the President's Office.

sam silva Thursday, 02 July 2020 05:02 PM

We should be classified as low income nation due to the poverty rate and not counting the the crooks income.

THILAK Thursday, 02 July 2020 05:10 PM

VERY GOOD DEVELOPMENT WE HAVING A HOPE SOMETHING HAPPENED WHEN PRESENT PRESIDENT IS IN POWER.

RM Thursday, 02 July 2020 05:11 PM

because Sri Lanka is focusing on militarization and religion more than focusing on development. When people support religious extremism, it will blind everyone. As a result, the country plunges to low. If Sri Lanka wants to progress, it should overcome the religious interference in the administration of the country or politics or the government. Uneducated religious people are barrier to the progress of the country.

Ranjith Thursday, 02 July 2020 05:22 PM

What more can we expect from the World bank our own leaders are ruinibg our country during last twenty years.

We r de great Thursday, 02 July 2020 05:24 PM

Who did that with out our permission.

Kapila Senaratne Thursday, 02 July 2020 08:40 PM

If you work out figures over crooks income I bet we will fall into G7 (world richest nations)

Jagath de silva Thursday, 02 July 2020 09:03 PM

Sri Lanka got its Independence more than 70 years ago 8 % population eats once a day and 60% of the population on the poverty line 2% of the countries population earn 70% of the countries GDP every governement who comes to rule shows magic for the first 12 months for our fools

Vioin B Thursday, 02 July 2020 09:26 PM

Rate the politicians and we will be classified as a super-rich country.

Roshanaly Friday, 03 July 2020 10:35 AM

Sri Lankan politicians are hungry for the power.

P.J.S.Fernando Friday, 03 July 2020 11:13 AM

Repeal the 13th ammendment immediately and save a good part of the 44% of GDP spent on provincial councils.

xaber Friday, 03 July 2020 11:33 AM

To those who this Gota is responsible this you should learn how economy works. This kind of a change doesn't happen in 6 months, it's a result of economic mismanagement over a long period. Thanks Yahapalanaya for making this happen.

Jaya Friday, 03 July 2020 01:36 PM

Great performance within six months. We should help the present government to retain the power to hit the bottom soon. Shortcut to attain Nirvana!

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World Bank downgrades Sri Lanka

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