Economic Impact

Counting the Cost: Terrorism and its Impact on the Sri Lankan Economy

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.

Linking Disaster Risk Management into Economic Policy Planning in Sri Lanka

Sri Lanka was ranked as the second most affected country by the impacts of weather-related losses in 2017, according to the Global Climate Risk Index 2019. Worryingly, the country’s situation has worsened since 2016. This highlights Sri Lanka’s vulnerability to climate impacts and the need for effective policies. The good news is that the 2019 Budget proposes several measures to improve Sri Lanka’s disaster resilience. In this blog, Kanchana Wickramasinghe discusses the challenges and gaps in disaster management and the ways in which Sri Lanka can improve its capacity to face these calamities.