Sri Lanka’s petroleum imports are rising at an alarming rate. This article by Vishvanathan Subramaniam examines recent trends in global oil markets and analyzes corresponding impacts on Sri Lanka’s economy. It suggests that while global oil prices are expected to decline in the short to medium term, Sri Lanka cannot be expected to maximize growth potential and ensure energy independence due to several structural inefficiencies.
Sri Lanka occupies a pivotal position as a strategic asset to both India and China, and despite its role as a pioneer of SAARC, the country is increasingly turning towards broader engagement with East Asia. This blog examines how Sri Lanka can delicately balance both Indian and Chinese interests to its advantage, to leverage the benefits of both regional superpowers.
Since Sri Lanka regained the EU’s GSP Plus facility last month, there have been varying views on its actual economic benefit to Sri Lanka. This article by Janaka Wijayasiri numerically estimates the export benefit of GSP Plus to Sri Lanka, identifying the leading beneficiaries in the country and their gains.
06 June 2017 marks 20 years since the establishment of Bengal Initiative for Multi-Sectoral, Technical, and Economic Cooperation (BIMSTEC), an international organization involving a group of countries in South Asia and South East Asia, including Sri Lanka. To mark this occasion, Dr. Kelegama, Executive Director of IPS, argues that the two key functional aspects of BIMSTEC, which are market-driven integration and government-driven integration, should be utilized selectively to seek quick gains to the region.
Sri Lanka’s flailing export sector gained some breathing space recently with the EU granting its GSP-Plus facility, which was withdrawn in 2010. While it is being touted as a significant achievement for Sri Lanka’s economic drive, this article argues that, its impact will provide only temporary relief. Therefore policymakers as well as the private sector should urgently ensure broader economic reforms in order to make the best use of this opportunity.