An effective vaccination strategy is a necessity for countries to move beyond COVID-19. However, it also requires careful policymaking to balance the financial cost of purchasing and delivering vaccines while stimulating economic growth. This article, based on a recent IPS analysis, provides an overview of the approximate costs associated with the COVID-19 vaccination rollout in Sri Lanka and evaluates policy options to finance the initiative. The authors argue that the government is best off pursuing a medium-term self-financing option through targetted tax interventions and if required, through external financing.
Across the globe, the magnitude of the COVID-19 pandemic has sparked a new urgency around healthcare systems and universal health coverage – the access to high-quality and affordable healthcare services for all, as and when needed. The limited resources available to address multiple challenges facing the health system point to the critical need for policymakers to explore smarter ways of investing existing funds. This blog examines some areas in which health spending can be made more efficient, drawing from information collected for an ongoing IPS study.
Historically, the Sri Lankan government has resorted to import controls to counter a balance of payment crisis. The current import controls have the same underlying rationale. However, the trade deficit’s temporary shrinkage may not be sustainable if there is no increase in exports. To increase exports, Sri Lanka needs to remove hurdles on input supply, remove distortionary tariffs, exploit market opportunities under the rule-based free trade system, and in the long run, improve the country’s GVC participation.
Sri Lanka’s migrant workers are an integral part of our economy, with their remittances traditionally accounting for the second largest share of the country’s foreign exchange earnings (8% of GDP in 2019) after merchandise exports. After the COVID-19 outbreak and resultant difficulties, a sizeable proportion of migrants looked forward to a safe return home. This blog, written to mark International Migrants Day, examines the experience and challenges in the repatriation process and offers suggestions on the way forward.
This blog highlights the importance of intellectual property rights (IPRs) in the commercialisation process and suggests some strategies to advance the commercialisation process in Sri Lanka.