How Sri Lanka regains upper-middle-income status after enduring a three-year crisis?
Just three years ago, Sri Lanka defaulted on its debt after suffering the worst economic crisis in its history. But with tough economic reforms, IMF assistance, debt restructuring, increased tourism and remittances, and a change in government, the country has been able to bounce back quickly. As a result, the World Bank has once again granted Sri Lanka the status of an upper-middle-income country in 2025. However, as external debt repayments begin again on a large scale from 2027, the country's biggest challenge will be to increase export and trade-based growth to sustain this success.
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