By Roshini Jayaweera, Research Officer – IPS   1. Introduction Arguably, one of the key constraints to the medium term stability of the Sri Lankan economy is the fiscal deficit. Whilst measures are being taken to address tax revenue aspects of the fiscal situation through the Presidential Commission on Taxation, there needs to be a [...]

> Anneka de Silva, Jithendra Seneviratne and Ayodya Galappattige The Gemidiriya (village strength) Community Development and Livelihood Project was initiated in 2004 in response to the Sri Lankan government’s Poverty Alleviation Strategy of 2003. The project is based on the community-driven development (CDD) model which aims to improve the livelihoods of rural communities through the [...]

Regulation of microfinance has become a hot topic internationally in recent years, particularly NGO microfinance. In Sri Lanka too regulation of microfinance institutions (MFIs) has become a significant policy issue. A Microfinance Institutions Act was drafted by the Central Bank of Sri Lanka (CBSL) with the consultation of different stakeholders, but is yet to become law. There is no questioning the importance of regulation and supervision for a healthy microfinance sector, which supports the delivery of financial services to the poor in a sustainable manner. But the question is whether the country is prepared to implement the desired level of regulation of microfinance