Unprecedented declines in merchandise trade, foreign direct investment (FDI) flows, tourism and cross-border migration have all been hallmarks of the economic fallout of COVID-19. As a result, growth expectations for countries worldwide dimmed. Nonetheless, thanks in part to substantial expansionary monetary and fiscal policies being rolled out to achieve pre-COVID economic recovery levels and the development of vaccines, the contraction in global trade and economic output are less than what was anticipated. The Sri Lankan economy too has been impacted by these external developments, witnessing fluctuating fortunes in its external sector performance. This blog discusses the impacts of global economic developments on Sri Lanka’s external sector and suggests ways to cushion them.
This year, the International Day of Forests is marked under the apt theme “Forest restoration: a path to recovery and well-being”. Forest restoration is one of the priority areas for mitigating the effects of climate change. Restoration and sustainable management of forests will help absorb atmospheric pollutants, re-build natural habitats and sustain life on earth.
This blog discusses Sri Lanka’s declining forest cover and offers suggestions on how the drivers of deforestation can be countered.
Climate change and related vagaries of weather have increased the vulnerability of the Sri Lankan population to natural disasters. Rural households and livelihoods are more affected by such calamities, which increases the risk of rural families sliding into poverty. As such, Nisha Arunatilake argues that improving the quality of jobs and livelihoods of the rural population is important to build these communities’ resilience to such natural disasters.
Sri Lanka had climbed to the fourth place among countries most affected by extreme weather events in 2016, according to the Global Climate Risk Index (CRI). This means that appropriate climate policies are more important than ever before. In an effort enhance its role in climate policy research, IPS conducted a policy engagement forum this year. The deliberations at the forum reiterated that timely, comprehensive, and evidence-based research is a key pillar in mitigating the impacts of climate change.
Latest Edition of Talking Economics Digest Now Online! – Integrating Sri Lanka into the Global Economy
The 15th Edition of the Talking Economics Digest centers on the theme of ‘Integrating Sri Lanka into the Global Economy.’