Sri Lanka as a woman: A guide for non-economists on current economic issues

There are macroeconomists and the rest of us. The former, having studied the nuts and bolts of economics, understand Sri Lanka’s current issues, or they do show.

Soaring food, fuel ramp up social unrest risk for emerging markets

Rising fuel and food prices look set to stoke an ‘inevitable’ rise in civil unrest, with developing middle-income countries such as Brazil or Egypt particularly at risk, a report by a risk consultancy said.

Gota Go Gama, One Galle Face and the country’s Youth

“Country is facing one of the most difficult and challenging economic, political and socially decisive times in its history …… Government has erred by banning use of chemical fertilizer and not going for a program with IMF earlier”…..These are not my words.

How can construction industry survive with present economic crisis?

The big question in the minds of many is for how long the local construction industry, which employs 650,000 workers direct and another 325,000 indirectly, could survive without a total collapse due to the multiple shocks it had to face during last 2 years.

Export outlook dims amidst economic challenges, says latest CCC-USAID Export Barometer Survey

The findings from the latest biannual Export Barometer Survey indicate that the exporters are losing confidence in the industry’s outlook,

Strategies for immediate aftermath of political and economic disruption

At present, Sri Lanka is faced with an unprecedented set of challenges brought on by its own historical behaviour. For years,

Survey reveals widespread pessimism Lankans have about their future

This report presents the latest findings of the Confidence in Democratic Governance Index (Wave 2) conducted by Social Indicator (SI), the survey research arm of the Centre for Policy Alternatives.

SriLankan sets record straight on proposed leasing of new aircraft

SriLankan Airlines Ltd welcomes and respects the rich debate in the public space on matters concerning the operation of the airline in general and the ‘Notice of Procurement’ for the lease of aircraft in specific. The board and management are of the opinion that the discussion on these topics would benefit from more full information.

Organic fertiliser transition in Sri Lanka: Farmers were providing an early warning of a food shortage

On April 22, 2021, President Gotabaya Rajapaksa announced a ban on the importation of chemical fertiliser to make Sri Lanka “the first country in the world to be free of chemical fertiliser”. The decision was passed into law by a gazette published by the Finance Ministry on May 06, 2021.

Sri Lanka post-bankruptcy; impact on banks?

Sri Lanka technically became bankrupt when it announced a temporary suspension of repayment of all external debt of around US $ 50 billion, saying the country can no longer honour its commitment, owing to weak financial reserves caused by external and internal shocks.

Sri Lanka’s debt default: What accelerated it and what lies ahead?

On April 12, 2022, Sri Lanka declared that it would suspend all external debt payments with immediate effect. Incidentally, Sri Lanka joined the dubious club of global defaulters.

Catalysing decarbonisation in Sri Lanka

We often ask the question as to why Sri Lanka should decarbonise when our carbon emissions are relatively low. This is true as the country’s share of global carbon emissions is only 0.06 percent and has been plateauing at the same rate for the last five years since 2015.

Many job losses in construction sector imminent with worsening economic crisis

The Chamber of Industry of Sri Lanka (CCI), which is the apex representative body of all who are engaged in construction sector, predicts that with the present economic crisis and due to several factors causing a debilitating impact, over 100,000 jobs will be lost within next 3 months, unless immediate remedial action is taken.

SL’s reluctance to tap IMF helped push it into an economic abyss

Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines.

Sri Lanka’s economy is entering a dangerous tailspin

Sri Lanka has just entered the deepest economic crisis in its history. Shortages and rising prices that people face today are only the first inkling of what lies ahead. Unless decisive action is taken, it can go into a destructive tailspin.

Sri Lanka’s political turmoil risks derailing the economy further

Sri Lanka is facing unprecedented political turmoil, and with the economy in a tailspin it is in its weakest state in decades. The country is staring down the barrel of a sovereign debt default and is exposed to external shocks.

Tackling current economic crisis: What Sri Lanka should do

Today we need urgently the Government Economic Plan prepared by knowledgeable and experienced professionals to restructure the economy and obtain assistance from the International Monetary Fund and other International Funding Agencies to overcome the Financial and Debt Crises. The costly delays and economic mismanagement has resulted in the present state of affairs with Sri Lanka deciding to default on its external debt.

Sri Lanka faces unsustainable debt and BoP challenges

Sri Lanka’s economic outlook is highly uncertain due to the fiscal and external imbalances. Urgent policy measures are needed to address the high levels of debt and debt service, reduce the fiscal deficit, restore external stability, and mitigate the adverse impacts on the poor and vulnerable, says the World Bank in its twice-a-year regional update.

Is future of emerging markets private equity?

Fast deteriorating risk profiles of Emerging Markets and Developing Economies (EMDE) are expected to slow down investment into these countries. Rising economic distress coupled with de-globalization momentum are triggering major business and economic reset in EMDE.

Is Sri Lankan economy nearing a tipping point?

The term tipping point has either a positive or a negative connotation depending on the context. It signifies the threshold, the boiling point, or the point of no return.

Independent economists present an emergency plan to address economic crisis

Sri Lanka’s usable reserves have dropped to levels of about US $ 150 million. Acute shortages of essentials ranging from fuel to medicine have become prevalent.

Traffic Light Labels: Do they promote healthier food choices in Sri Lanka?

In line with globally recommended practices to reduce the dietary risk of non-communicable diseases (NCDs), the Sri Lankan government implemented a traffic-light labelling (TLL) system for sugar-sweetened beverages (SSB) in August 2016.

Ceylon Chamber provides recommendations to address energy crisis

The Ceylon Chamber of Commerce through its Energy Sector Committee has been studying the on-going energy crisis in the country.

Solar power in proper perspective for laymen

The current power crisis is the ‘talk of the town’. And quite legitimately so, as it affects all walks of our economic, financial and social life across all segments of society, threatening the very basic of our needs.

Getting into driver’s seat: Apparel (and other) SMEs can show the way to a brighter future

In planning for the future, the past is just prologue. For modern Sri Lankan small and medium enterprises (SMEs), the prologue is dominated by massive twin global headwinds of a post-pandemic future and a war brewing in Europe.

Currency board: A solution to Sri Lanka’s economic crisis?

On March 8, Sri Lanka devalued the rupee against the US dollar, entering into a floating exchange rate regime. The Central Bank of Sri Lanka had to abandon the pegged exchange rate, as defending the rupee with dwindling reserves was impossible.

Past errors that need corrections

These days we are enjoying the benefits of bilateral credit extended to us by our neighbouring countries such as Bangladesh, India and China.

Food security in BIMSTEC region: Lessons from Sri Lanka’s smart farming

Sri Lanka is hosting the fifth Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit today.

Impact of COVID-19 on illicit tobacco market

As part of ongoing research into the economic impact of illicit markets, the Research Intelligence Unit (RIU) shared some of the key findings from its latest report that covers the economic impact of untaxed tobacco consumption in Sri Lanka.

Sri Lanka Tourism, once again on its knees?

We in the tourism industry are no strangers to falling on our knees. We are quite used to it. SARS, Bird Flu, airport bombings,