The Institute of Policy Studies of Sri Lanka (IPS) held a seminar on 25 October 2022 to coincide with the release of the Institute’s annual flagship report, Sri Lanka: State of the Economy 2022, on the theme Driving Policy Action from Crisis to Recovery. Dr Nandalal Weerasinghe, Governor, Central Bank of Sri Lanka and Mr K M Mahinda Siriwardana, Secretary to the Treasury/Ministry of Finance, Economic Stabilisation and National Policies, delivered the keynote addresses. Dr Dushni Weerakoon, Executive Director, IPS, made a presentation to mark the release of the Sri Lanka: State of the Economy 2022 report. Mr R H W A Kumarasiri, Director-General, Department of National Planning and Mr E A Rathnaseela, Addl. Director-General, Department of National Planning chaired/moderated a session on ‘Policy Action for Shared Sustainable Growth: A National Policy Framework’. Under this theme, senior IPS researchers Dr Nisha Arunatilake, Director of Research, Dr Ganga Tilakaratna, Research Fellow and Dr Manoj Thibbotuwawa, Research Fellow, made presentations.
Empty supermarket shelves, endless queues to buy essentials and overnight camping around fuel stations are now regular sights in Sri Lanka. As the economy continues to plummet with no viable short-term solutions in sight, levels of frustration among the citizens continue to rise. The country’s worst economic crisis since independence has battered Sri Lankans from all walks of life but the fallouts are impacting the poor with greater intensity. If urgent measures are not taken to support the most vulnerable at this time, more Sri Lankans will slip into poverty thus increasing intergenerational poverty in the long term. This blog identifies some of the most pressing challenges faced by the poor and vulnerable amidst the prevailing crisis and outlines policy options to safeguard their well-being.
Sri Lanka is hosting the fifth Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit from 28-30 March 2022. Established in 1997, BIMSTEC is a seven-member regional organisation comprising Bangladesh, Bhutan, India, Nepal, Myanmar, Sri Lanka, and Thailand. BIMSTEC pays significant attention to agriculture and food security, with agriculture included as a stand-alone sector in 2005 in recognition of its importance. Sri Lanka, the lead country for the coordination of activities in the Science, Technology and Innovation Sector, is in the midst of a food crisis even as it plays host. Against this backdrop, this blog discusses food security challenges in the BIMSTEC region, Sri Lanka’s experiences in smart farming, and its expectations from the summit.
The tourism industry’s performance was hampered first by the Easter Sunday bomb explosions in 2019 and then the COVID-19 pandemic. Sri Lanka saw a decline in tourist arrivals from 1,913,702 in 2019 to 194,495 in 2021. It is estimated that revenue declined from USD 3600 million to USD 261 million during 2019-2021, reflecting a staggering 92.75% reduction due to a fall in arrivals. This blog discusses existing disparities in tourism and the possibility of adopting a sustainable, pro-poor tourism strategy to reduce poverty in Sri Lanka.
Sri Lanka’s social protection and food insecurity amidst the COVID-19 pandemic came into focus at a webinar panel discussion held recently to mark the release of the ‘Sri Lanka: State of Economy 2021’ report, the annual flagship publication of the Institute of Policy Studies of Sri Lanka (IPS). The event featured presentations by Dr Ganga Tilakaratna and Dr Manoj Thibbotuwawa from IPS, along with insights from Prof Udith Jayasinghe, Secretary to the Ministry of Agriculture, and Prof Dileni Gunewardena, Professor of Economics, University of Peradeniya. IPS’ Lakshila Wanigasinghe moderated the discussion.