Low government revenue is a key challenge facing sustainable macroeconomic growth in Sri Lanka, adversely affecting its finances and limiting the government’s ability to fund infrastructure and social initiatives. Tax reforms launched under an IMF loan agreement, coupled with the Inland Revenue Act (IRA) to improve tax collection, should offer...
To what extent will consumption and private investment be affected in the short to medium term by the IMF programme?
Rising public debt and spending rationalisation has brought public-private partnership (PPP) deployment to the forefront of economic and trade policy reforms, with the Vision 2025 development strategy emphasising increased utilisation and diversification of PPPs. Shared development frameworks are thus expected to expand beyond the mainstay...
After years of internal conflict, Sri Lanka is enacting political and economic reforms to exert its renewed influence in the region and become an independent, global player. Time will tell if the authorities will be able to implement challenging reforms and position the nation on the international stage.
Hailed by Chinese President Xi Jinping as “the project of the century”, the Belt and Road Initiative (BRI) promises to radically transform a vast swathe of the world’s trade and transport infrastructure. In doing so, it may also significantly change the way Asia does business with the world, and the way the world does business with Asia.
Sri Lanka has long served as an important strategic destination in the Indian Ocean, catering to merchants and travellers from South-east Asia, India, the Middle East and East Africa. Formerly known as Ceylon, the island was visited and admired by the likes of Marco Polo, who called it “the finest island of its size in the world” well before...
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