Cabinet has approved a proposal to downgrade Sri Lanka to "low income" category on the World Bank list with the aim of getting access to concessional funding from international organizations.
"International organizations had informed the Finance Minister to downgrade Sri Lanka back to the lower income category as access to concessional funding would be easier," Cabinet Spokesman Minister Bandula Gunawardane said.
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Is low income category of a country decided by per capita income or by cabinet approval…….?
Good question.Its all politics either way the rich get richer the poor poorer