By the time COVID-19 hit, Sri Lanka’s tea production and export earnings had already been on a declining trend. The adverse weather conditions and long-term structural issues such as labour shortages and lack of technological application have affected production levels over time. With the first wave of the pandemic, the vulnerabilities of the tea sector were exposed. Now, Sri Lanka and most of the main tea buyers are experiencing a second wave which can have far reaching negative consequences than previously anticipated. This blog discusses the impacts of COVID-19 on Sri Lanka’s tea industry and the different mitigation strategies that the government can adopt to revive the industry.
Amidst the severe disruptions triggered by the COVID-19 pandemic, it is important for economies to formulate and implement effective policies to mitigate the negative impacts induced by the crisis. Given the fact that Sri Lanka is an aspiring upper-middle-income country (UMIC), this blog examines fiscal responses by affected countries including Sri Lanka, at different income levels – i.e. high-income countries (HICs), middle-income countries (MICs), and low-income countries (LICs) in line with multilateral financial institutions’ (MFIs) recommendations.
Disasters such as COVID-19 can significantly impede development. While it is difficult to avoid being affected by disasters, disaster preparedness can reduce the costs, and quicken the recovery.
Successive Sri Lankan governments have correctly identified the importance of MSMEs as one of the main drivers of growth and development. However, while this sector makes up the backbone of the Sri Lankan economy, it continues to be one of the most vulnerable to local and global economic disruptions.
This blog discusses key challenges Sri Lanka faces when adopting working-from-home (WFH) as a solution to the country’s low female labour force participation (FLFP) and proposes policy solutions to overcome them. It is based on IPS’ forthcoming ‘Sri-Lanka: State of the Economy 2020’ report on ‘Pandemics and Disruptions: Reviving Sri Lanka’s Economy COVID-19 and Beyond’.