Taxing Tobacco: Why the 2023 Budget Should Increase Tobacco Taxes

Sri Lanka’s economy is at a critical juncture where urgent steps are needed to improve the country’s fiscal position. The Institute of Policy Studies of Sri Lanka (IPS) has maintained that increasing tobacco taxation has undeniable health and fiscal benefits. In this context, policy solutions, such as taxing tobacco which can be leveraged to boost government revenue without threatening economic growth, are essential.

CCC drafts series of proposals to bring about effective, efficient, independent public sector

The Ceylon Chamber of Commerce (CCC) this week put forward a series of proposals to bring about the necessary reforms to ensure Sri Lanka has an effective, efficient, and independent public sector that would help the progression of the national economy.

Finding solutions to economic crisis through professional handling of supply chain and logistics

Supply chain is a network of organizations and processes wherein several various enterprises such as the supplier, manufacture,

FTAs highly essential for enhancing Sri Lankan apparel’s resilience: JAAF

With fears of a global economic recession looming, the Joint Apparel Association Forum (JAAF) is actively stepping up engagement with top government and Foreign Ministry officials to expedite negotiations on Free Trade Agreements (FTAs) to help boost exports and strengthen the industry’s resilience.

Food Fight: Sri Lanka’s battle for food security

Sri Lanka’s economic crisis continues to affect the lives and livelihoods of its people, with the burden being highest on the poor and vulnerable.

Fundamental causes of current economic crisis

During the 2016 U.S. presidential campaign, a macroeconomic theory, Modern Monetary Theory (MMT) has become an interesting topic in United States politics. Stephanie Kelton, a proponent of this theory, was among the advisors of Bernie Sanders.

Exciting line-up of speakers set to steer Chartered Accountants Sri Lanka’s 43rd National Conference

An exciting array of speakers of both national and international fame are set to take the stage at the 43rd National Conference of Chartered Accountants as they share their thoughts and ideas with the country’s professional Accounting community, including business leaders and c-suite executives, to take charge of transformation and help steer the nation out of the ongoing crisis.

Electricity and eligibility: Targeting cash transfers in Sri Lanka

How can a large-scale cash transfer programme be established from scratch, quickly, and during a deep economic crisis?

How a Fiscal Council can help Sri Lanka regain fiscal credibility

Sri Lanka was once considered a development success story. But, within the last few decades, this legacy was lost to governance failures and economic mismanagement.

A model for a production economy, enquiry from Tripitaka

Relishing on the liberal electoral process and propaganda machinery, political parties of the country over the years have been painting a promising picture of prosperity to the voter to grab their vote. Once power was secured, the promises were easily forgotten.

The Sri Lanka paradox

Sri Lanka has long been admired by development economists, international financial institutions, public intellectuals for leading South Asia in all economic and social indicators.

16 key private sector leaders come together to support SL’s food security efforts

The United Nations Development Programme (UNDP) in Sri Lanka recently launched a facility to enable interested private sector organisations to partner and contribute towards procurement of urgent medical supplies and address food security needs,

Amended plaint to be filed against former CB Governor Cabraal

The court was yesterday informed that the complainant party is expecting to file an amended plaint against the former Central Bank Governor Ajith Nivard Cabraal, regarding the private plaint filed over the alleged financial irregularities that took place while he was serving as the Central Bank Governor in 2014.

Stagflation in Sri Lanka? Risks and policy responses

The world economy is showing signs of a serious slowdown due to overlapping crises including the Russia-Ukraine War, the COVID-19 pandemic,

Aragalaya: Is it over?

‘Aragalaya’ started over 100 days ago with a series of protests emerged in several places in the island. Initially, it came from economically weaker segments of society.

Asian financial crisis lessons offer recovery path for Sri Lanka

Ranil Wickremesinghe, who rescued Sri Lanka’s economy from recession as Prime Minister in 2002, is back, now as Executive President. This time around, his challenge is far greater.

IPS recommends proposals for upcoming interim budget

Ahead of the presentation of the Interim Budget, the Institute of Policy Studies of Sri Lanka (IPS) has recommended policy proposals for inclusion in the forthcoming Budget. Some key policy issues and recommendations follow.

Runaway inflation and limits of monetary policy

The bad news on inflation keeps coming. As of June 2022, year-on-year (YOY) inflation nationally is estimated at an all-time high of 59 percent.

Is Temasek model Sri Lanka’s way out?

It is clear to us all that Sri Lanka is in a state of crisis. You just need to see the queue at your local gas station for evidence of that. The core reasons for the crisis however, are a more contentious debate.

Central Bank of Sri Lanka, its independence and us

An expert panel discussion on ‘Surviving the Current Economic Crisis: Ex-Central Bankers in Dialogue’ was held in early June.

Sri Lanka’s deepening economic crisis: The plight of the poor

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.

Learnings for Sri Lanka on SOE reforms from Malaysia’s Khazanah

A super-holding company for managing State-Owned Enterprises (SOEs) has been identified as a globally successful model for SOE management.

Sri Lanka’s mounting crisis: Road to economic recovery ahead is long, hard and unavoidable

Talk to anyone waiting for days in a long queue to get a few litres of fuel for daily living, unable to cook food, due to the lack of LP gas or forced to stay in the darkness,

FBR - Good riddance! What next to increase migrant remittances to Sri Lanka?

The decision by the Cabinet to partially lift the Family Background Report (FBR) requirement for female migrants is long overdue and a welcome move to promote female labour migration from Sri Lanka.

Learning for Sri Lanka on SOE reforms from Singapore’s Temasek Holdings

A super-holding company for managing State-Owned Enterprises (SOEs) has been identified as a globally successful model for SOE management.

Sri Lanka’s food crisis: What is the role of imports?

Food security has become a pressing concern for many Sri Lankans amidst a deepening domestic economic crisis, drastic loss of rice production and post-Ukraine crisis commodity price surge in the world market.

From project financing to debt restructuring: China’s role in Sri Lanka’s debt situation

Sri Lanka is currently experiencing a foreign currency sovereign debt default for the first time in the country’s post-independent history.

Troubled Transportation: Lessons for Colombo from Manila, Bangkok and Hong Kong

One of the most critical implications of Sri Lanka’s current economic crisis is the hard hit on the transport sector. The foreign exchange shortage has made importing fuel a major challenge, severely affecting road transportation and further impeding the performance of an already crippled economy.

A short take on Sri Lanka Tourism

The unprecedented economic collapse is wreaking havoc across the social economic landscape of Sri Lanka. All industries are suffering, with front end industries like tourism carrying the brunt. And tourism is no stranger to crises, having had to face multiple setbacks, time and again, over the last 30 -40 years.

Was cash-strapped Sri Lanka duped by China in Hambantota Port?

The Chinese-built Hambantota Port has become a millstone around Sri Lanka’s neck, as the seaport has landed Colombo in a dragon debt trap and is commercially unviable, with little hope of traffic revival in future.