Ajith Perakum Jayasinghe Sri Lanka ushered in a new era for its agricultural sector yesterday with the launch of a groundbreaking program granting freehold deeds to farmers. This initiative, championed by the President Ranil Wickramasinghe, represents a transformative step towards empowering generations of families and revitalizing rural communities. While some political groups have expressed concerns…
Sri Lankan leftist groups affiliated with the Frontline Socialist Party, People’s Liberation Front (JVP) and Argalaya movement urge the government to prioritize collecting outstanding taxes before resorting to raising existing levies or introducing new ones. The issue was raised in many parliamentary committees as well. Talking about the issue with The Island newspaper, Sri Lanka’s…
As Thai Prime Minister Srettha Thavisin prepares to visit Sri Lanka on February 3-4, the recently released trade data sheds light on the burgeoning economic relationship between the two countries. The visit, which will culminate in the signing of a free trade agreement (FTA), further solidifies this promising direction. According to oec.world, in 2021, Thailand…
Imagine a doctor checking up on a country’s economy. That’s kind of what the Growth Diagnostic Framework (GDF) does! It’s a special tool created by the International Monetary Fund (IMF) to help countries figure out what’s holding them back from growing strong. And guess what? Sri Lanka just became the first country in Asia to…
While hurdles remain, Sri Lanka’s debt restructuring efforts are gaining traction, with official creditors on board and private talks advancing. The next few months will be crucial in determining whether the island nation can finally reach a comprehensive agreement and pave the way for economic stability and growth. Sri Lanka’s debt restructuring efforts are gathering…
Celebrating India’s 75th Republic Day, Indian High Commissioner Santosh Jha unveiled exciting news for Sri Lanka – the imminent finalization of the Economic and Technology Cooperation Agreement (ETCA). This agreement, he declared, “promises to be a game-changer,” paving the way for a significant boost to the island nation’s export potential. Mr. Jha’s optimism echoes past…
By Dushni Weerakoon (East Asia Forum) Nearly two years after announcing a debt default in the middle of a severe social and political crisis, the Sri Lankan economy is showing the first signs of recovery. Year-on-year inflation dropped sharply to a low of 1.5 per cent in October 2023 from its peak of 70 per…
In a recent educational workshop organized by the We Have a Dream Collective on January 19, 2024, Mr. Sarath Jayamanne, President’s Counsel and former Director General of the Bribery Commission, shed light on the main features of the groundbreaking Anti-Corruption Act No. 9 of 2023. The Act, designed to combat bribery and corruption, introduces several…
State Minister Ranjith Siyambalapitiya provided insights into the Government’s fiscal strategy regarding the proposed Rs. 10,000 salary increase outlined in the 2024 Budget. The overall expenditure on Government employee salaries is expected to rise to around Rs. 14 billion following the proposed Rs. 10,000 salary hike which was originally slated for April. “At present, around…
Colombo Port Experiences Surge in Traffic Amid Red Sea Crisis Sri Lanka’s Colombo port has witnessed a significant increase in container volumes in recent weeks as vessels seek alternative routes to avoid the tensions in the southern Red Sea. Yemen’s Iran-backed Houthi rebels’ attacks on ships in this vital shipping route prompted some shipping companies…
