Category: Watch Tower
Opinion: Driving sustainable and inclusive growth for everyone
By Armida Salsiah Alisjahbana, Under-Secretary-General of the UN and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP) Rapid development in Asia and the Pacific has propelled the region to become a key engine of growth for the global economy, yet this prosperity has not reached everyone. And with the […]
Apptimus Tech, Jaffna’s software firm from bedroom to 7,000 square feet in 5 years
By Jekhan Aruliah The Yarl Geek Challenge has a strong record as nursery for tech startups. By 2022, its 11th season, YGC alumni have started more than 60 companies employing hundreds of people. This doesn’t include those who emerge from these companies to setup their own startups. Yes It’s great when competitions and colleges give […]
IMF Publication: Regulating the Crypto Ecosystem – The Case of Unbacked Crypto Assets
The ongoing evolution in the crypto ecosystem is revealing both opportunities and pitfalls. Crypto assets were originally developed to democratize payments but are mostly used for speculation and, in the case of certain types of dollar-denominated stablecoins, also as a hedge against inflation and currency depreciation. Unbacked crypto assets are the oldest and most popular […]
History Repeating Itself: Sri Lanka’s Electricity Crisis
By Imesha Dissanayake: The COVID-19 pandemic and the subsequent economic crisis revealed vulnerabilities in the Sri Lankan economy and weakened its economic state. Given the severity of the challenges faced, the economy is now at a fragile state with many crises at hand. One such crisis is the electricity crisis where sporadic power cuts even […]
Taxing Tobacco: Why the 2023 Budget Should Increase Tobacco Taxes
By an IPS Research Team 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 […]
Opinion: What Sri Lanka Can Learn from China’s Bitter Experience
By M. Rizwan Muzzammil The following article, describing the economic growth of China, extracts information from “The Power of Capitalism” by Rainer Zitelmann. The reader is encouraged to refer to this book for more details and references. The Great Leap Forward Mao Zedong wanted to turn China into a shining example of Marxist Socialism, and […]
With people rushing for Sri Lanka’s exit, is anyone coming back?
By Jekhan Aruliah In July 2022 the Sri Lanka Sunday Times reported “Pandemonium at passport office”, reporting people sleeping for days in queues waiting to get their papers stamped. The Ceylon Today newspaper reported in September 2022 that “About 2000 doctors have left so far this year due to the current economic crisis”. With so […]
Food Fight: Sri Lanka’s Battle for Food Security
By Lakshila Wanigasinghe World Food Day is observed on 16 October to promote awareness and action to ensure regular access to nutritious food for all. The blog examines Sri Lanka’s struggle to safeguard food and nutrition security amidst the ongoing economic crisis and outlines policy steps to tackle the challenge. Sri Lanka’s economic crisis continues to […]
Opinion: “Saving” the Economy
by M. Rizwan Muzzammil The economy is shrinking The economy can be likened to a train engine pulling carriages up a hill. The engine represents the wealth generating component of the economy, which is the private sector. This is because the existence of the private sector depends on profits, and since profits are an increase […]
Opinion: Marketers’ role in Sri Lanka’s recovery
By Thanzyl Thajudeen Despite the much-required socio-political changes, every one of us – whether its entrepreneurs, SMEs, corporations, institutions and individual citizens – have a crucial role to play in the country’s path to recovery. Instead of continuing to point out fingers to those responsible for the chaotic economic situation we are in – which […]
Opinion: What Sri Lanka Can Learn From Thatcher’s Legacy
by M. Rizwan Muzzammil Introduction The following article, describing the economic situation of post-war United Kingdom (UK), extracts information from “The Power of Capitalism” by Rainer Zitelmann. The reader is encouraged to refer to this book for more details and references. After the War In 1945 the Labour Party won the general elections, and prime […]
A Fiscal Council for Sri Lanka: Pathway to Regaining Fiscal Credibility
By Dr. Lakmini Fernando: 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. In recent years, the country has been characterised by a glaring lack of fiscal discipline reflected in rising deficits, debt, inefficient state expenditure and an inability […]