The immediate economic consequences of Sri Lanka’s brutal Easter Sunday terror attacks are obvious. The damage to tourism is the most apparent; investments decisions might be delayed. The impact of a serious breach of security depends on whether it is perceived as an isolated incident or an endemic threat. A swift and efficient response to bring the security situation under immediate control and restore ‘normalcy’ helps establish the former; confusion and disarray only reinforce the latter and delays an economic recovery.
The coordinated blasts on Easter Sunday in Sri Lanka claimed more than 250 lives and left at least another 400 injured. While Sri Lanka battled a civil war for nearly three decades, this is a new brand of terrorism which transcends geographical borders. In this, migration in and out of countries play a critical role. Here, Bilesha Weeraratne sheds light on some of the policy developments that will need urgent attention in response to extremist terrorist attacks in Sri Lanka from a migration point of view and institutional changes in border control in Sri Lanka.
Latest Edition of Talking Economics Digest Now Online! – Transitioning to a High Middle Income Economy
As Sri Lanka moves towards achieving high middle-income status, the country is faced with both challenges and opportunities. To leverage the maximum advantage presented by these favourable circumstances and overcome the obstacles, reforms are needed in almost all aspects of the economy. In this context, the 17th Edition of the Talking Economics Digest centers on the theme of ‘Transitioning to a High Middle Income Economy.’
Sri Lanka’s labour market has been riddled with persistent high informality, an unchanging low female labour force participation, and low quality of available jobs. Enhancing exports can be a solution to these intractable problems, according to the findings of the Exports to Jobs – Boosting the Gains from Trade in South Asia report, which shows that boosting exports improves domestic labour markets by creating jobs, increasing wages, and reducing informality.
IPS’ New Thinkers’ Symposium saw discussions at the Policy Hub focus on some of recent government initiatives aimed at creating an enabling environment for economic transformation in Sri Lanka through technology and innovation under the Symposium’s overall theme of Technology and Economic Transformation.