On 20 May 2021, Sri Lanka’s worst-ever marine disaster occurred when a fire erupted on the Singapore-registered MV X-Press Pearl container ship just 18 km Northwest of Colombo. While the long-term cost is yet to be determined, the negative impact on industries such as fisheries and tourism, and people who rely on the coastal resources of Sri Lanka is already apparent. This article examines the key consequences of this disaster on Sri Lanka’s coastal economy and highlights the need to enhance regional maritime cooperation to prevent the recurrence of such disasters.
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.
The year 2020 saw close to 1.6 billion students from over 180 countries being kept out of schools for extended periods of time, in response to the COVID-19 pandemic. Despite commendable efforts by many countries to put in place alternative remote learning strategies and corrective measures, learning losses have been unavoidable and substantial.
In this second year of the pandemic, many countries are moving from emergency responses towards policies aimed at recovery. Along with reopening schools and resuming education, these also include tailored support to help students adjust to learning in the new normal, and remedial measures to make up for lost learning.
Sri Lankan schools have been largely dysfunctional for over 15 months since initial closures in March 2020, despite some brief periods of operation. This blog examines policy responses adopted in Sri Lanka’s education sector over the past year, with a view of informing its future education recovery strategy in 2021 and beyond.
Experts at CPD-IPS-SV international webinar on the ‘Recovery of the Apparel Sectors of Bangladesh and Sri Lanka: Is a Value-chain Based Solution Possible?’ call for suppliers, buyers, governments and international organisations to work closely together for speedy and sustainable recovery of the apparel sectors from the COVID-19 shock.
The government is giving renewed emphasis to increasing agriculture exports to manage the trade deficit and foreign debt burden. Most recently, a draft national agricultural policy has been prepared, with comments being sought from relevant stakeholders. This blog highlights gaps in the international market which the agriculture sector can target, identifies factors impeding export-sector growth in agriculture, and suggests solutions for unlocking the untapped potential in this vital sector.