This year marks 100 years of elections in Sri Lanka and what a fitting celebration it is as election excitement reaches fever pitch. As the most crucial election in Sri Lanka’s history draws near, the likely outcome of the election is becoming clearer. Although the deathmatch is between Ranil and Sajith to take control of the UNP as the first priority and become president as the second priority, Ranil has steadily slipped down. The election is now between Anura and Sajith. Every voter must vote for either Anura or Sajith to make their vote count. Voting for any other candidate is a wasted vote.
Contrary to expectations, Anura has penetrated into Tamil and Muslim vote bases far more effectively than any Rajapaksa ever did. While he cannot win a majority of Christian, Tamil or Muslim votes, he has gained a few hundred thousand votes from these minorities. Compared to Mahinda’s 13% (2015) and Gotabaya’s 8% (the percentages they could get from Tamil and Muslim voters), this is a significant achievement. It shatters many old assumptions that are fast becoming irrelevant.
However, Anura is nowhere near the percentages Mahinda and Gotabaya achieved in winning Sinhala votes. In 2015 Mahinda obtained 58% of Sinhala votes and Gotabaya managed 65%.
Sajith edges out Ranil as the son of a former president pitches to poorer sections of the society while retaining the support of most businessmen. People living below the poverty line almost doubled since 2022 to 26% in 2024 which presents Sajith a winnable segment. He also has a strong support from Christians, Tamils and Muslims. But this time he has competition and he has lost part of it to Ranil. Sajith only managed to win 29% of Sinhala votes in 2019 and by now he has lost part of them.
This puts both Anura and Sajith in a close encounter. The winner must be chosen between them counting the second and third preferences. Over 20% of votes have been wasted as they have been cast to others.
Second and third preference is no preference as those who have cast them have in fact rejected both top candidates. It is not morally correct to decide the winner after counting second and third preferences and adding them to the original count. Instead had the over 20% wasted votes been cast to the top two candidates, it would have reflected a better representation of the public opinion.
There’s no perfect presidential election candidate. Voters must pick the lesser of the two evils – Anura and Sajith. Voters must disregard the rest or their votes will end up wasted. Be part of the change be the subject of change.
All the declared contenders for the forthcoming Presidential race in Sri Lanka have now made their manifestos public. The respective Manifestoes of the 5 leading candidates are titled ‘Puluwang’ (Possible)by Ranil Wickremesinghe, ‘A Win for All’ by the SJB, ‘A Thriving Nation, a Beautiful Life’ by the NPP, ‘A National Strategic Plan’ by the Sarwajana Balaya, and ‘For You- A Developed Country’ by the National Peoples Front of Namal Rajapakse. This is a unique situation for the discerning public because the majority of the contenders in the fray, except Mr. Ranil Wickremesinghe, are new to the Presidential stakes, and hence, the propositions on offer could be new but may warrant a lengthy public inquest.
All these manifestos ostensibly promise to make the country literally ‘A land flowing with milk and honey,’ but the examination of these propositions should be engaged in with circumspection to ensure that the proposals are aimed to make Sri Lanka economically better and socially stable; the national need of the hour. In this context, we find the offer to raise the salaries of the public servants, in competing degrees, by the three contenders considered ‘front runners’ to be somewhat politically expedient. That is not because the present salaries they receive are commensurate with the needs of everyday life but rather because the public service in Sri Lanka at present is an acknowledged white elephant that is highly unproductive. Hence, this sector has been a primary economic burden on the masses. Therefore, if the country is to come out of the economic morass it has fallen into over the years, restructuring and pruning the public service to make it more productive is a primary national requirement.
However, the purpose of this article is not the lengthy analysis of different manifestoes for their ‘vote catching’ idiosyncrasies but to point out a salient issue that the manifestoes of these ‘leading’ contenders have given vent to, which could lead to a moronic social and political order if implemented. That is the issue of the full implementation of the 13th Amendment to the SL constitution, as pronounced by the SJB candidate, Mr. Sajith Premedasa and the NPP candidate, Mr. Anura Kumara Dissanayake, considered as leading candidates at present.
The SJB, in its manifesto, under STRENGTHENING DEMOCRACY & RECONCILIATION, states that, ‘ SJB Alliance is committed to change the present constitution …. our principle is to convert our present political system to parliamentary system and with maximum devolution based on 13th amendment…’ Statements with similar connotations are present in the NPP manifesto as well but what is significant is that both these leaders have made public pronouncements in the North and East as to their intentions to give police and Land Powers to the provincial Councils that are enforceable under the present SL constitution. It is a fact that Sajith Premedasa has even entered into a written agreement with the regional party in the north Ilankai Tamil Arasu Kachchi (ITAK) to this effect, and it is also reported that he has also entered into a written agreement with Mr. Rauf Hakeem who has been clamoring for Sharia Law in the Eastern Province.
As for the manifestos of other candidates in the fray, Sarwa-Jana-Balaya and the National Peoples Front have not committed to implementing the 13th Amendment or made such public pronouncements.
Full implementation of the 13th Amendment will grant extraordinary power to the Chief Ministers elected for each Provincial Council, and from the ordinary man’s perspective, this could mean that the items listed in the provincial list get restricted to a particular province. In day-to-day affairs, this means that a citizen of SL will have to seek the permission of the Chief Minister of the PC if they desire to pursue those provincial listed facilities. The writer of this article is a resident of Sabaragamuwa but was engaged as a professional in a number of private and public institutions and World Bank projects located in the western province and sent his children to education in the central province. Once the 13th Amendment is fully implemented, such activity may not be possible unless you seek the permission of the Chief Minister of the respective Provincial Council. Thus, this is the net effect of this 13th Amendment when you analyze its practical aspect on the day-to-day life of an average citizen.
As for crime and national security, the situation will be very complicated. After committing a crime, a criminal only has to cross the provincial border to evade arrest. Then, the Chief Minister of the province will have to seek the co-operation and goodwill of the adjoining provincial minister to evoke police powers to track that criminal down in the adjoining province. In this setup, it will be interesting to note how the two chief ministers interact when they belong to two different political parties. As for national security, the Central Government will have no authority to quell terrorism or unlawful behavior in a particular province unless invited by the Provincial Government.
Some apologists of the 13th Amendment try to argue on the grounds of greater devolution to the provinces. Still, the Central government’s powers have already been devolved through the provincial Secretary administration system and Pradeshiya Sabhas to cater to the needs of citizens in respective areas. And the people in provinces have never appealed for further devolution of any particular powers as there never have been such requests reported. The issue to note here is that before the introduction of the Indo Lanka Accord and the 13th Amendment Sri Lanka had a system of devolving power to the periphery as ‘one country one law’ whereas the 13th Amendment brought a situation of ‘a country with different laws to the peripheries.
Effectively, what the 13th Amendment seeks to implement is not devolution but a federal system of government in the country. Yet Federalism, wherever it exists today, has always been brought to integrate small states to strengthen their existence for security and social reasons. For instance, the United States of America came to existence by combining all the states in that part of North America to stand up to the colonial domination by the British. Even Switzerland was made a federal state as the country felt the need to become a worthy and proper member of the United Nations in its membership. Therefore, if Federalism is implemented in Sri Lanka, as proposed under the 13th A, it will be the first instance where a single country is to be decimated into 9 provinces, and that would go against the very principle that has brought federal governments into existence in this world up to now.
Last but not least, the popular argument of this apologist of the 13th Amendment is that it gives greater power to the different ethnicities inhibiting the island nation. This is against the natural law of nation-building because every nation that has come into existence after the UN charter has to have a shared national identity. Thus, there is no way a country can permit different ethnicities to have their own way, overriding the interest of the particular nation that they are a part of. Further, such patronization could lead to fragmentation and chaos, especially in a small nation island like Sri Lanka. Such activity could lead to permanent conflicts and a situation like that in Gaza.
We must remember that this entire episode of ‘ethnic enclaves’ was the concept of certain Tamil leaders who sought to preserve the privileges the Tamil community enjoyed at the time of independence. Those were the privileges British colonials nurtured on minorities to administer this country on the ‘divide and rule’ basis for 150 years. Therefore, now, 150 years after independence and after making free education available to the majority,, and in this compute- age, privileges on a communal basis are no longer relevant.
Another fact that makes this concept of ethnic enclave irrelevant is the revelation by the Department of Census and Statistics of Sri Lanka that 56 % of the SL Tamil community does live outside the North and East. This was the position even in 1980 when the pre-war census was taken. This shows that the Tamil community considers the whole of Sri Lanka to be their homeland, and in such a context, restricting them to the North and East would be discriminatory and work against national integration.
Arun Siddharthan, the Tamil political activist, has publicly stated that the Tamil community is at peace now, and the children who carried guns then are now carrying books. Hence, he, too, has stated that the 13th Amendment is redundant and that the Tamil community at large is not in need of such an amendment to confine them to the North and East only.
In conclusion, the whole point about the 13th Amendment is that it was introduced by India in 1987 as a solution to the terrorism that plagued this country with no end in sight at the time. It was a time of desperation, and India was aiding and abetting the LTTE at the time. At the time, however, the Sri Lankan leaders and even the international community believed that the LTTE was invincible and, hence, needed to be appeased to end terrorism. Yet the LTTE did not accept the 13th Amendment as a solution and continued their armed struggle, confirming the need to eliminate terror only by counter-terror.
In this milieu, the question now is, why are these Sinhalese politicians from the SJB and NPP falling over one another to implement the 13th Amendment fully at this time when there is no terrorism and when the country is marching towards unity and ethnic harmony? The answer is that these opportunistic politicians are either competing to win the Presidency with no regard to peace and ethnic harmony in the country, or alternatively, they wish to hoodwink the Tamil community to garner few Tamil votes by patronizing their racial instincts. Either way, this position is against the interest of the country and its ethnic composition, and therefore, the people in this country shouldn’t elect leaders of such political opportunism to rule this country.
Americans wanted to spread their ideologies & gain power in some Muslim countries.
But Muslims generally abhor Americans.
It was a problem to get a foothold in those countries.
However Americans has a standard strategy.
Support the dissidents in that country.
The Muslim dissident groups were more radical and more opposed to the Americans than their governments generally.
But then what the Americans do?
Get hold of one of the struggling such dissident groups & support them or at times form a fake such dissident group & support them.
Because these dissident groups are outwardly more antagonistic to Americans, the general population never believe them to unite with the Americans.
This has happened in several countries and the elected governments were thrown off to appoint leaders loyal to America through the American supported such groups.
Isn’t this now familiar to you?
Open your eyes & see how the 3% JVP which was struggling to survive has now come to prominence.
Malimawa/NPP spread millions all around the country to stage rallies.
Each day three rallies at different places should be costing over millions.
Posters and media ads over ride other campaigners.
Simple excuse is the party is supported by donations and then no wonder big Sam’s hand there.
Recently it was in the news that America spent millions in the year to change the government in power.
Americans spend millions for regime change in Sri Lanka.
JVP was a hand to mouth political party who themselves admit lived upon sharing shirts, blouses & under pants
America understands Ranil has no chance of winning this election so that they wanted an alternative group loyal to them to win the election.
This has been their long term plan.
Therefore America approached 3% struggling JVP dissident group who fell prey to them.
Otherwise JVP knew there is never a chance for them to get over 50%.
They made a coalition with many NGOs funded by the Americans and the West to appear as Malimawa or NPP, now the wolf in lamb clothing.
Therefore America has made it certain whether Ranil wins or apparent main rival Anura wins this election, our country is in their grip.
A Christian college educated campaigning with malice on Buddhism with such utterances as Yasodhara was more to be respected than Bodhisattwa
Are you not yet convinced?
See the number of Sinhala American professors campaigning for NPP.
Is it not shocking to you now one of our expatriate American professors was garlanded at a NPP meeting recently as the head of the policy planning in a NPP government.
What else America want, an expatriate American making policies for our country in a NPP government, if you have an iota of brain?
Last Sunday I read an endearing letter in the Sunday Island by an expatriate American professor imploring us to vote for the NPP.
If someone is working studying or living in America and enters our politics it is a great danger to our country.
Similarly if someone’s children or other close family members are in such a place in America it is equally risky to our country.
Not that these educated expatriates are direct American agents but unwittingly they will fall prey to American tactics and will never have the wherewithal to go against policies that America bring to the government table in future.
Take for instance, MCC, Sofa etc.
The unforeseen forces so powerful that Wimal Weerawansa’s frank & fearless revelation on American involvement in the affairs of the NPP in his Hiru Salakuna programme was brought down just the next day from air.
A major television station to act so timidly the order should have come from the very top quite understandably.
It is no secret Ranil was brought to power through aragalaya directed by foreign hands.
The glaring example is when Shiekh Hasina was chased from Bangladesh she had the courage to tell to the world that it was America that was behind the protests against her.
However Gota chickened out not disclose that it was America behind our Aragalaya because his kith & kin are studying working and living in America.
Ven Pahingala has been sent a letter of demand for ten billion, mind you ten billion damage for telling that NPP has in its policy booklet stating not giving the pride of place to Buddhism & once NPP comes to power it will implement rapidly the 2015 –2019 constitutional changes suggested by Yahapalanaya government.
The clear strategy of Malimawa is to frighten away any resistance or protests to its policies by challenging to send you to courts.
The social media is hijacked by its planted agents who frighten off any different views on media.
Just imagine how could it be under a NPP government.
Please do at least vote the clueless SJB if you want to waste your vote.
Ranil is no way worth even for a wasted vote neither Namal.
Our goose is cooked.
Because you are angry with Rajapakshas don’t let your principles go down & vote for NPP because you wanted to get rid of this corrupted government.
Don’t cut off your nose to spite your face.
Still our 69 principles are pure but it was the driver we chose to drive who was at fault.
Dear friends, if you have an iota of affection and loyalty our country and an iota of brain please
do vote Dilith Jayaweera for the sake of your next generation & for the independent existence of our beloved country.
He may have his faults but out of the top six he is the BEST.
I have never seen him or been friends with him but this is not a time for friendship vote.
Please spread this word of wisdom to all to save our country.
Washington, DC – Sep 10th, 2024, the South Asia Foresight Network (SAFN) unveils a landmark report on 9th Sep 2024 at the National Press Club in Washington DC. The report launch was followed by a discussion with the authors, Mr. Asanga Abeyagoonasekera, Executive Director SAFN and Ms.Ishini Shashipraba, Research Assistant SAFN. Mr. Jerome C Glenn Co-founder of the Millennium Projectdelivered opening remarks highlighting the importance and timely relevance of the report and Ms.Poonam Sharma Editor in Chief Global Strat View(GSV) moderated the event.
The 60-page report Sri Lanka Presidential Election 2024: Political and Economic Analysis delivers a stark warning to policymakers and political actors. As Sri Lanka approaches its critical presidential election on September 21, 2024, the report outlines essential findings and provides urgent recommendations to mitigate the looming political, economic, and social risks threatening the nation.
Drawing from Key Informant Interviews (KIIs) with leading academics, journalists, politicians, civil society figures, and diplomats, the report leverages qualitative methodologies to project potential scenarios for Sri Lanka’s political economy.
Key Findings:
Democratic Contraction: Despite leadership shifts, the report highlights an alarming trend of democratic erosion. Draconian legislative measures like the Prevention of Terrorism Act and the Online Safety Act point to ongoing state control over civil liberties, with military and police forces frequently used to suppress political dissent. This contraction of democratic space poses severe long-term risks to Sri Lanka’s democratic institutions.
Governance Challenges: Despite having institutional frameworks in place, corruption and inefficiencies have eroded public trust in governance. The report identifies a critical need for reform in anti-corruption bodies, judicial processes, and law enforcement, as well as a more transparent policymaking process.
Economic Instability: Persistent economic turmoil continues to undermine public trust. Though the government claims signs of recovery, rampant corruption and a lack of transparency erode institutional integrity. Inflation, unemployment, and socioeconomic inequality remain prevalent, exacerbating popular discontent.
Political Alternatives: The Samagi Jana Balawegaya (SJB) emerges as the most credible political alternative. The report praises the SJB’s experienced leadership and successful coalition-building efforts, noting that these factors place the SJB in a strong position to execute a coherent and comprehensive economic reform agenda. By uniting under a clear vision for economic stability and governance reform, the SJB stands as the most viable force to lead the nation. Conversely, while the National People’s Power (NPP) benefits from its anti-corruption stance and momentum from the Aragalaya movement, it lacks governance experience—an essential factor in tackling Sri Lanka’s economic crisis.
Foreign Relations and Policy: The report stresses the need for balanced foreign policy, as Sri Lanka navigates complex relationships with India, China, and the United States. Successful economic recovery and political stability hinge on clear, pragmatic foreign policies.
Urgent Warning to Policymakers:
The SAFN report warns that without immediate reforms, Sri Lanka risks slipping further into a ‘polycrisis’—a convergence of economic, political, and social challenges. The country’s leadership must act swiftly to reverse democratic decay, stabilize the economy, and foster political accountability. External reports, including the IMF Governance Diagnostic and the latest UN OHCHR report 2024, highlight further reforms needed to support institutional integrity and human rights.
Call to Action:
This report serves as both a diagnostic tool and a roadmap for the future. As Sri Lanka’s presidential election looms, all political actors, civil society groups, and international stakeholders must engage thoughtfully to ensure that the country’s future is shaped by inclusive, transparent, and accountable governance.
By P.K.Balachandran/Daily News Courtesy NewsIn.Asia
Colombo, September 10: James Carville, Bill Clinton’s political advisor, said that when it came to elections it was always the economy. It‘s the economy stupid!” he famously remarked. Carville’s contention has stood the test of time.
While many other issues have also come into play, this year’s US and Sri Lankan Presidential Elections are taking place amidst economic anxieties and the core issue is the economy again.
A number of concerns are being highlighted in the September 21 Presidential poll in Sri Lanka, including the Tamil demand for a federal constitution. But the one upper most in the minds of the voters, across ethnicities and classes, is whether the government should continue to implement the IMF’s prescriptions or re-negotiate them. The ultra-leftists want them rejected, lock, stock and barrel.
President, Ranil Wickremesinghe, who is standing as an Independent” is highlighting the way he led the country’s recovery from the unprecedented economic crisis it went through in 2022 with the help of the IMF.
He decided to be a non-partisan”or a unifying” candidate and appeal for votes solely on the strength of his achievements in the last two years when he shepherded a distraught nation from despair to an era of hope if not prosperity.
But his two principal rivals, Sajith Premadasa of the Samagi Jana Balawegaya (SJB) and Anura Kumara Dissanayake of the National Peoples’ Power (NPP) are seriously challenging his claims, highlighting the common man’s inability to bear a situation in which he has to pay high prices and high taxes without an increase in his earnings. At the ground level, the economy is still sluggish despite manifest improvement at the macro level. Both want the IMF’s prescriptions re-negotiated.
Such a situation makes the September election a close contest in which Wickremesinghe could meet his match in the younger, more radical Dissanayake.
Economic Crisis
In 2022, Sri Lankans experienced power cuts and shortages of essential commodities such as food and fuel.Inflation hit 50%. Protests broke out in April as serpentine queues formed at cooking gas and petrol stations. Schools shut and office goers were asked to work from home.
According to the BBC, Sri Lanka imported US$ 3 billion more than it exported, running out of foreign exchange. In 2019, it had US$ 7.6 billion in forex reserves, which dwindled to US$ 250 million. COVID was cause but mismanagement and bad policies were the major factors.
In April 2022, for the first time in Sri Lankan history, the Gotabaya Rajapaksa government decided to default on repayment of foreign loans which totalled more than US$ 83 billion.
In July, acting President Ranil Wickremesinghe was made President by parliament. Using Emergency provisions, he restored order and began reviving the moribund economy. India, US,China and the Paris Club collaborated to see that the IMF sanctioned a bailout of US$ 3 billion.The World Bank pledged another US$ 600 million.India pumped in US$ 4.5 billon to restore supplies of essentials.
In 2023, as part of the IMF reform program, Sri Lanka introduced income taxes for higher earners, ranging from 12.5% to 36%.It also raised other taxes to pay for critical purchases.
Candidates’ Profiles
A record 39 candidates are running in the September 21 election. However, only three of them are serious contenders. These are, sitting President Ranil Wickremesinghe (Independent), Sajith Premadasa of Samagi Jana Balawegaya (SJB), and Anura Kumara Dissanayake of the National Peoples’ Power (NPP) an alliance led by the ultra-leftist/nationalist Janatha Vimukthi Peramuna (JVP).
Namal Rajapaksa, the eldest son of former President Mahinda Rajapaksa, is also in the fray as the candidate of the Sri Lanka Podujana Peramuna (SLPP). But he is neither expected to win nor to make a significant dent in the votes of others. He is politically raw, and the SLPP is in steep decline.
Ranil Wickremesinghe
Ranil Wickremesinghe (75) is the most experienced, best educated, and the oldest of the top candidates. He was Prime Minister five times,though never for a full term. He has held key ministries like Education, Science and Technology and Industry. And as President, he has held the Defence and Finance portfolios.
The present election is seen as a referendum on Wickremesinghe’s economic reforms and his governance.On the upside, inflation dropped to about 5.9% from 70% in 2022. The economy expanded in the fourth quarter of 2023 by 4.5%, the IMF said.
Interest rates also dropped, the rupee rebounded, foreign reserves increased.Creditor countries such as India, Japan and France, agreed to defer debt repayments until 2028, giving Sri Lanka space to rebuild its economy.
With Presidential Elections due in September 2024, Wickremesinghe brought down power tariffs by 22.5% which should have led to a reduction in the prices of goods by 20% if the traders cooperated.
The downside is that people, especially in the urban areas, are complaining of high prices and taxes. In an article dated September 13, 2023 published by Project Syndicate, Professors Jayati Ghosh and Kanchana N. Ruwanpura pointed out that the IMF had pledged only US$ 3 billion over four years. It is a tiny fraction of what the country needs to meet its debt-servicing requirements and just one-sixth of its foreign-exchange earnings, which amounted to roughly US$ 18 billion in 2022.”
The IMF imposed a series of conditions that significantly exacerbated Sri Lanka’s cost-of-living crises, the authors said. The mandated shift to market exchange rates, in particular, immediately led to sharp currency devaluation, causing imported fuel and food prices to skyrocket and contributing to a 165% increase in electricity tariffs between June 2022 and February 2023, Ghosh and Ruwanpura said.
As fiscal restraints were imposed, the economy continued to spiral down, with GDP shrinking by 7.8% in 2022 and 11.5% in the first quarter of 2023. This has had an adverse impact on employment, livelihoods, and the viability of small and medium-size enterprises.”
Consequently, real wages fell by 30-50% in 2022 and have remained stagnant.Although it includes a modest increase in corporate income taxes, it neglects the possibility of imposing wealth taxes,” the authors added.
Wealth tax is a levy on the total value of a person’s assets, as opposed to taxes on their income, real estate, or asset sales. Wealth tax is a way of moderating extreme wealth inequality. Leftists complain that Wickremesinghe has let the wealthy off the hook while heaping indirect taxes on the poor.
By reducing the interest rates on sovereign bonds held by Sri Lanka’s largest pension funds (EPF) from more than 20% to 12%, and then to 9% from 2025 until maturity, the government aimed to reduce its interest burden by 0.5 percentage points of GDP annually.
Recent estimates by economist Ahilan Kadirgamar suggest that this will result in a 30% decline in the value of retirement funds a decade from now. Moreover, these pension funds, often holding the only financial assets of working people, will be subject to a 30% tax on their returns – higher than the tax rate applied to many in the corporate sector.
Rural-Urban Divide
However, there could be a rural-urban differential in the economic impact of the reforms. Rural folk have gained by the import of diesel and petrol with the US$ 4.5 billion given by India and the dollars from the IMF. The removal of the ban on chemical fertilisers was a boon to the farmers.
Moreover, rural folk do not feel the pinch of high prices as much as the urbanites do, because they do not buy food with cash as urban workers and office goers to do on a daily basis. Nor do they use public or private transport on a daily basis.
Premadasa and Dissanayake
Wickremesinghe’s challengers Sajith Premadasa and Anura Kumara Dissanayaka have said that they will renegotiate some of the aspects of the IMF deal to benefit the poor. But Wickremesinghe has warned that any bid to amend the IMF deal could adversely affect ties with India, China and the Paris Club of creditors, the US, and international lending agencies. And the horrible shortages might return.
The Presidential election is also a contest between administrative experience and inexperience. In contrast to Wickremesinghe, both Premadasa and Dissanayake lack political and administrative experience. So far, Premadasa has only held the portfolio of Housing which is a minor ministry in Sri Lanka. Dissanayake has no administrative experience whatsoever. As a Leftist, he has been an agitator and an MP all his political life.
Dissanayake is appealing to younger voters in the urban areas. But Premadasa is presumed to have the traditional United National Party (UNP) voters across the country, which is not inconsiderable. As a non-doctrinaire and right wing politician, Premadasa could get along with the international community chiefly India and the US.
Dissanayake is just the opposite. He is a Marxist and ideologically anti-West and pro-China. As a staunch Sri Lankan nationalist, he will fight perceived encroachments by external powers. As the leader of the nationalist Janatha Vimukthi Peramuna (JVP), the main party in his alliance NPP, Dissanayake has been anti-India right through.
While releasing his manifesto, he spoke about how Sri Lanka’s consumer goods market is dominated by Indian products and how it is necessary end it. He followed this up by saying that the giant oil tanks at Trincomalee given to India by a bilateral agreement in the 1980s will be given to a consortium of foreign entities through a tender.
Since Dissanayake is pro-China, Beijing may expect him to revive the uncompleted US$ 1.4 billion Chinese-aided Colombo Port City international hub project. This involves coaxing Indian and Western companies to invest in it. But this could prove to be an uphill task given the geopolitics of the Indo-Pacific
An Essex nursing student has been reflecting on a once-in-a-lifetime placement which was made possible thanks to the University of Essex’s very own crowdfunding platform, Click.
Rae Spencer was one of 11 student nurses able to raise funds for the trip to Sri Lanka in August, where they had the chance to learn more about the healthcare system in the country.
The students were able to observe a variety of departments and practices at the Karapitiya Teaching Hospital, in Galle, ranging from neurosurgery to acupuncture.
The trip was carried out under the Travelteer scheme, which provides volunteering opportunities in Asia.
The students immersed themselves in completely different environment, something that third year Adult Nursing student Rae admits was an eye-opening experience.
The placement proved to be highly informative, albeit somewhat sobering, as I was confronted with challenging and uncomfortable situations,” Rae said.
Despite this, I actively sought learning opportunities and explored as many areas of the hospital as possible to get the most from my experience.”
As part of the placement, Rae was able to witness native healthcare techniques, as well as the emphasis on the three doshas, or functional energies in the body, Vata, Pitta and Kapha.
Away from their placement, Rae and the students were able to immerse themselves in Sri Lankan culture and nature, including getting up close to elephants and sea turtles, as well as relaxing on golden beaches in the evenings.
And despite missing home during her time in Sri Lanka, Rae is in no doubt that her time there was one of the best experiences of her life.
If you’re considering doing a placement abroad, it’s a fantastic opportunity, both personally and professionally,” Rae continued.
It was a rewarding but challenging experience for me. Approaching it with an open mind and a willingness to get involved, overall, it was a once-in-a-lifetime experience.”
Rae added: This experience was a crucial component for me in terms of my studies and the beginning of my nursing career.
“It provided hands-on experience and exposed me to various healthcare settings, patient demographics, and medical conditions.
“Witnessing healthcare in other countries has given me a greater understanding of the nursing role and how it changes between cultures and countries.”
The students were able to take part in the Travelteer programme after they raised £10,000 through Essex’s own crowdfunding platform, Click.
A further £5,500 was match-funded thanks to generous donations from alumni and University friends to our Student Experience Fund.
President Ranil Wickremesinghe has removed five state ministers, including Geetha Kumarasinghe, with immediate effect, according to the President’s Media Division (PMD).
The other State Ministers removed from their portfolios include Shasheendra Rajapaksa, Amith Thenuka Vidanagamage, Prasanna Ranaweera and D.V. Chanaka.
The removals were made according to the powers vested in the President under Article 47 (3) (a) of the Constitution of Sri Lanka, the PMD said.
Meanwhile, the President had previously removed another four state ministers from their ministerial portfolios on September 05.
Accordingly, the State Minister of Ports and Aviation Services, Premalal Jayasekara, the State Minister of Power and Energy, Indika Anuruddha, the State Minister of Agriculture, Mohan Priyadarshana de Silva, and the State Minister of Highways, Siripala Gamlath, had been removed from their respective positions by the President.
The Government of Sri Lanka has rejected the latest report on the island nation by the UN High Commissioner for Human Rights, accusing it of exceeding the OHCHR’s mandated sphere of human rights to comment on macroeconomics as well as financial and budgetary issues under sovereign parliamentary purview.
Speaking as the country concerned following the presentation of the report of the Office of the High Commissioner for Human Rights (OHCHR), Sri Lanka´s Permanent Representative Ambassador Himalee Arunatilaka elaborated that Sri Lanka has succeeded in stabilizing its economy through a combination of prudent economic decision-making and financial oversight and governance as acknowledged widely.
Sri Lanka also reiterated its long-standing commitment to engaging with the UN, the Universal Declaration on Human Rights and the related Treaties.
The Permanent Representative further stated that while strengthening the economy for the prosperity of all Sri Lankans is a priority for the Government, Sri Lanka continues to make progress on national unity and reconciliation.
Continued efforts through domestic processes, including the Office on Missing Persons (OMP), Office for Reparations (OR), Office for National Unity and Reconciliation (ONUR), the Office for Overseas Sri Lankans and the Interim Secretariat for the Truth and Reconciliation Mechanism (ISTRM) were highlighted, while details were provided in the Government’s written response to the OHCHR Report.
Ambassador Arunatilaka highlighted that social protection measures such as the ‘Aswesuma’ programme have been put in place to support vulnerable groups. It was underlined that the Report exceeded OHCHR’s mandate by commenting on macroeconomics as well as financial and budgetary issues under sovereign Parliamentary purview.
The Permanent Representative expressed Sri Lanka’s disassociation from the report of the OHCHR which lacked balance and failed to acknowledge the atrocities committed by the LTTE during decades of a brutal terrorist conflict.
Sri Lanka reiterated its strong rejection of Resolution 51/1 and the external mechanism established within the OHCHR which is unwarranted and counter-productive.
The Ambassador further said:
Let me restate at the outset, Sri Lanka’s opposition to Human Rights Council Resolution 51/1 which mandated the report under consideration and the establishment of the external evidence-gathering mechanism.”
This resolution was adopted without Sri Lanka’s consent by a divided vote within this Council. We disassociate with the report for the reasons stated in our detailed response, available on the OHCHR website.”
It is most surprising that the report steps far out of its mandated sphere of human rights to comment on macro economics as well as financial and budgetary issues under sovereign parliamentary purview. Contrary to the reaction of the rest of our international partners, it projects a negative overview for Sri Lanka’s future, fails to recognize social stabilization and the preservation of parliamentary democracy overcoming recent severe challenges, the return to normalcy with the restoration of food, energy and public services and stability arising from significantly improved outlook.”
Furthermore, it makes no mention of the brutal acts of terrorism and human rights violations committed by the LTTE, including child recruitment, suicide bombings, assassination of democratically elected MPs and leaders in SL and abroad, and the disruption of democratic rights and freedoms of the people, especially in the North and the East.”
I wish to once again emphasize Sri Lanka’s strong rejection of Resolution 51/1 and the external evidence-gathering mechanism established within OHCHR. This unproductive and unwarranted mechanism exceeds the Council’s mandate, contradicts its founding principles, and polarizes the Council, undermining the progress we have made domestically.
The selective and disproportionate focus on handpicked developing countries while ignoring critical situations elsewhere is unacceptable. We urge the Council to avoid politicization and double standards, and to focus on dire humanitarian situations that require urgent action to maintain its credibility.”
Mere talk is not what is required in Sri Lanka’s situation of today- massive unemployment and lack of incomes- poverty for the people at large- the vast majority who cannot today be assured of even two meals a day. It is on record that children are not even going to school- they are at home in hunger.
I look forward to hear from the personage that wins our Presidential election[- a Presidential decree creating immediately a special programme, training the unemployed in industry, agriculture and livestock- all to produce what is imported today. It is not the creation of a new Department; instead it is redirecting existing programmes and redeploying existing personnel.
The achievement of the Youth Self Employment Programme of Bangladesh comes of great importance to all contenders for our Presidency, in that it is the only employment creation programme that has achieved world status guiding over three million youths to become entrepreneurs within the short space of four decades. In the first nineteen months it created employment to around 2000 youths. It is a programme that has left its imprint on the sands of time
The full details of how the Youth Self Employment Programme came into being is narrated in detail to help the personage that is victorious at the general election on September 21 st. to make a firm decision to create such a employment creation programme in Sri Lanka..
No feasibility reports were written to get the Youth Self Employment Programme approved. The approval came in a flash. In Bangladesh when the new Military Government of General Ershard took over the country in 1982, the Ministry of Youth Development was providing skills training to 40,000 youths annually but the vast majority of them failed to find employment and continued to be unemployed for life. I happened to be the Commonwealth Fund Advisor to the Ministry on Youth Development. The new Hon. Minister for Labour and Manpower, Air Vice Marshall Aminul Islam at a Conference held to evaluate youth development programmes, ordered me,: What can you contribute for Bangladesh”? I replied: I would suggest that you approve a self employment programme to supplement the skills training programmes that are being implemented by the Ministry of Youth Development, where the lecturers who train the youths in skills will, in addition, also guide the youths to establish enterprises to manufacture items for sale and become self employed entrepreneurs.”
The Secretary to the Treasury, the highest official in the country who was present objected: Self-Employment is not a task that can be done. The International Labor Organization (ILO) with all their unlimited resources have just miserably failed to establish a self-employment programme at Tangail in Bangladesh. They laboured for three years and brought experts from all over the World and failed. It was a great loss – a massive expenditure and this Government is not going to waste any more funds again. Self-Employment is not a task that can be done. That was the conclusion of the ILO and they are the experts.”
I replied: Though the ILO failed, I can establish a Self Employment Programme. I hold the experience of establishing self-employment projects in Sri Lanka for eighteen years and also hold the Ph.D in Agricultural Economics and Non Formal Education from Michigan State University. I am confident of success.”
The Secretary to the Treasury the highest official in Bangladesh laughed loud at my attempt to make entrepreneurs out of school drop outs- the ones that had even forgotten to read and write. the category from which the Department of Youth Development found youths for skills training. I argued that though the ILO failed I would succeed. The Secretary to the Treasury was adamant that such a programme would never succeed, but I quoted instances where I had established successful employment creation projects providing incomes to youths while simultaneously producing what the country imported.”
The battle went on for an easy two full hours The Hon. Minister was listening in silence , making notes, till his patience was exhausted. The Minister finally ordered us to shut up. He asked: for any Government training programmes that guided youths to become entrepreneurs. The Secretary to the Treasury replied None”. The Minister then asked for the total number of youths in vocational training. The answer was a few hundred thousand. Then the Minister asked for the number of youths that failed to get into higher education as well as finding a suitable job- the youths that will be scraping the barrel for life, unemployed. The Secretary answered that it was in the millions, every year
The Hon Minister without any hesitation immediately decreed that I should establish a self employment programme to create entrepreneurs.
The Secretary to the Treasury stated ‚ that he will provide no funds to establish a self employment programme, to which I replied that I needed no new funds; I will find savings within the approved budgets for the skills training of the youths and re deploy staff as necessary. The Hon Minister approved my suggestion.. .
We started planning work that night itself. The next morning I was addressing trainees at the training centers and also training our Lecturers and Youth Officers on how the programme should be done. The officers who had till then done traditional youth development work were trained in concepts of economics and how to identify areas in the economy where there was scope for employment creation, where the output produced would help the country. All Training Institutes were immediately altered to Training Cum Extension Institutes where the youths in training were to be guided to become self-employed. Overnight we established a countrywide special extension service for the lecturers to go out on inspections and help the youths who faced problems.
The youths were guided to draft their own projects to become self employed, starting small farms even with a few cows or chicks. Dresses were sewn using the machines at the training centers that were kept open after work till ten at night. The method was to intensively guide the trainees in the management of their enterprises. Every action from the planning of their projects, to the purchase of raw materials, the chicks, the feed, the process of manufacture, the process of the growth and sale of cattle, the making of garments and their sale were all monitored on a non formal education basis where the youths were trained to look at the advantages and disadvantages of each course of action and act on their own. They were monitored closely and helped when they failed. .
The trainees were taught basic economics related to their ventures‚The training included understanding the free market economy and the youths were guided to think, understand and increase their ability and capacity in the process. Our aim was to make a youth movement to make youths establish ventures and guide them till they are income bearing equal to the earnings of a clerical officer in the Public Service.
This Programme began at the end of March 1982 with a few trainees and was expanded to 2000 by October 1983. . The team comprised the Secretary, the Joint Secretary of the Ministry with a few hundred staff of Directors, Deputy Directors of Youth, Director for Livestock and Poultry, Directors of the 3 Residential Training Centers in Livestock & Poultry, Lecturers in Training Institutes- all of whom were taught the essentials of economics firstly to be able to analyze the economy of Bangladesh and to arrive at areas of economic activity where self employment would be an asset to the country. They were also taught methods of imparting instructions in a manner that would evoke the active participation of the trainees and enable them to think and make their own decisions. This included national and regional planning culled down to the village level., where the self employment units were established. This was National Planning which Sri Lanka did till 1977 and stopped at the orders of the IMF when we followed the IMF’s Structural Adjustment from 1977.
In an Evaluation done in August 1983, 16 months from commencement the Report documented: A Programme of Excellence in every respect unfolds in the results documented. .Of 500 unemployed youths who joined the programme in the early months, 479 are earning an average net income of Tk 596.00 in August 1983, 8 to 12 months after they commenced their commercial ventures, 55 of them earned over Tk. 1000.00 a month and 253 earn over Tk 500.00.” In August 1983, barely 16 months from the commencement, the achievement was hailed by the two Secretaries of the Ministry of Labour and Manpower; In their words:
Dr. Karunaratne’s significant contribution has been in the field of self employment to the drop-out youths. This programme was not only designed but also guided by him. This activity, which was initially launched as a pilot experimental project, has been a great success and has now being adopted as a fill-fledged Programme. The Government of Bangladesh has been successful in providing meaningful employment to a large number of youths on this Programme” . (Md. Asafuddowlah, Joint Secretary of the Ministry))
Dr. Karunaratne’s role as the formulator of the program has been particularly commendable. It was mainly through his dedication and hard work that the pilot project has now been formally accepted as one of the most important development projects.” (Ayubur Rahaman, Secretary of the Ministry of Youth Development,
The YSEP has stood the test of time for over three decades (1982-2024) The Five Year Plan of Bangladesh 1997-2002 devotes 8 pages to this program. This is easily the premier employment creation program that one can find in the world today. All other programs involve training and apprenticeship only and never include the tasks of motivating youths, involving them in non-formal education endeavor to develop their abilities and capacities, through technical guidance and management advice provided as they work on their projects aimed at their becoming commercially viable, which are the cornerstones on which this programme has been based.
The YSEP Programme was expanded apace to involve 7000 youths by 1987, to 16,000 by 1992 and to 160,000 a year from 1997. In 1982 we had only 3 Residential Training Centers. This was increased to 64 by 1997. In 2011 February The Government of Bangladesh reported to the 34 th Session of the Governing Council of IFAD(FAO), one of the funders, that this programme had guided as much as two million youths to be self employed‚ on a commercially viable basis.(Statement by Bangladesh to the 34 th Session of the Governing Council of IFAD(FAO), dated19/02/2011)
My task was also to train the officers to carry on the programme after my‚ two year period of service ended.‚ True to a man Bangladeshi officers carried on the ardous task and‚ today 160,000 youths are being guided annually.. A full Department of Youth Development now devotes 95% of their time to training and guiding youths to become self employed..
His Excellency former Ambassador, Milinda Moragoda in 2011, in his bid to become the Mayor of Colombo, in his manifesto said that he should seek to implement the Youth Self Employment Programme of Bangladesh, which incidentally was an amazingly successful scheme introduced to that country by a distinguished son of Sri Lanka Dr Garvin Karunaratne, who served in Bangladesh as an international consultant.” From (The Nation: 11/9/2011)
It would behove whoever that wins the Presidential Election on 21 st September 2024, to make a Presidential Decree that a special programme to alleviate poverty, create employment and the production that Sri Lanka needs, be immediately implemented.
The Youth Self Employment Programme was implemented with no additional funds whatsoever for the first four years. It was entirely done by recasting development programmes and re deploying existing staff. .
‘Before you study the economics, study the economists!’
e-Con e-News 01-07 September 2024
Elon Musk’s Starlink, just like the IMF, wants to wait & see how our elections go, before they divulge their mysterious plans for Sri Lanka. Thus, their groupies & fanboys & fangirls breathlessly tell us: ‘Authorities are planning for a Zoom meeting with Starlink.’ However, the world is not wholly made up of such disoriented sycophants.
Zimbabwe has had to face severe sanctions, as imposed by the USA. The recent decision by Zimbabwe to give the go-ahead to Elon Musk’s Starlink, however, is being viewed as a failure by Zimbabwe’s ‘indigenous cellular networks to invest adequately’. Indigenization in Zim Telco failed because of ‘self-centered indigenous entrepreneurs who only enriched themselves without R&D and developing Telco. (see ee Quotes)
As the critics of Starlink in Zimbabwe show, unlike our craven merchants, there are still independent people in this world who don’t salivate while stargazing at celebrities. They don’t believe in fairytales of superstars & entrepreneurs. They know such ‘prodigies’ are a product of a larger machinery that invents inventors & manufactures manufacturers, and makes machines that make machines. The Hollywood media glorification of the Jobses & Gateses, Musks & Zuckerbergers are pure squalid puffery, like some slime-ridden Fortune 500 listing. Behind these individualized superstars are large armies of workers, including the weaponized divisions of the largest imperialists in the world.
Sri Lanka’s import-export colonial plantation oligarchy – so addicted to the North Atlantic (where they stash their wealth & relatives) – are reluctantly waking up to the blockages put up by NATO’s wars in East Africa & West Asia, in East Asia & right here in the ocean around us, which remains a colonial lake. This week’s targeting of Swedish instructors training operators to conduct deadly attacks on Russia, made us also think about the role Scandinavian countries like Sweden have played in the old slavery & colonial game. Sweden’s Nobel, it may be recalled, was one of the main instigators of the slide into Europe’s World War 1… (see ee Focus)
• The last few ees have shown how ‘the colonial project created an international division of labour to ensure that the colonized would never achieve modern industrialization’, placing tailor-made fetters on Sri Lanka’s fiscal & monetary sovereignty to perpetuate such underdevelopment. Also noting how Bangladesh’s IMF agreement has furthered economic disaster, and will accelerate long-term chaos. It turns out that the IMF seeks to block the state’s ‘capacity to intervene’ so that it cannot ‘promote domestic industrialization’. This ee looks at the agents in these acts of sabotaging industrialization.
*
University of Colombo professor Sirimal Abeyratne is Chair
of the Central Bank’s Stakeholder Engagement Committee
of Sri Lanka, which he does not declare in his weekly
column on ‘Down-to-Earth Economics’ in The Sunday Times
– see ee Focus, Imperialist Seduction of Central Bank Officials,
Economists, Professors & Newspaper Columnists
*
England’s government is still busy, ‘worried’ about us, from still so far way, worried about the conduct of capitalist elections (they’ve sent spies here dressed up as ‘Commonwealth’ experts to monitor them, see ee Random Notes). Their English ruling class has shown us how to put on expensive farces, like their recent election which replaced as Prime Minister an Indo-African moneylender who claimed to be an Englishman with a knighted Scotsman disguised as a Labourite – who upholds the same imperialist policies as his Conservative predecessor. The English government has also published a book to tell us how we should run the economy: Sri Lanka: from Debt Default to Transformative Growth, An Essay Series, edited by Ganeshan Wignaraja & Dirk Willem te Velde:
*
‘Launched on August 22 by ODI global affairs think tank,
ahead of the polls, this collection of essays features contributions
from renowned Sri Lankan & international experts delivering
27 concrete proposals on how to steer the country from
debt distress to a path of lasting economic prosperity’
Ooops! What on earth is ODI? Is it cricket? No, it is a department of the English state! England’s Department for International Development (DFID)’s Overseas Development Institute (ODI). And what the book inadvertently offers (midst a cataract of innocuous-sounding acronyms like ODI, DFID, etc) is a glimpse into the (we won’t call it corrupt, even if it smells & sounds, & feels like it; let’s call it for what it is: capitalist) nexus of imperialist governments & public officials in Sri Lanka: diplomats, those ‘independent’ Central Bank officials, universities, and independent ‘think tanks’, etc.
Even FT columnist Charith Gunawardena writes on ‘ODI’s ‘From debt default to transformative growth?’: ‘While pragmatic on the surface, [the book] fails to address the root causes of Sri Lanka’s economic challenges and overlook the importance of prioritising the wellbeing of its people & the environment.’
So, here’s yet another expensive English lesson about Sri Lanka’s current despond, and the chemistries being injected to revive the old import-export colonial plantation system. There is absolutely no mention in the book, of the need for a policy of modern machine-making industrialization and the path we must take to achieve this. But why should the English, home of the first Industrial Revolution, tell us? Don’t do as they say. Do as they do. The only machines referred to in the book are when one ‘Professor’ speaks of the Sri Lankan ‘rich who drive cars that consume high levels of petrol and who are able to use air conditioners & washing machines in their homes’ (Devarajan).
Shantayanan Devarajan is a well-domesticated yankified student of Princeton & Berkeley, a World Bank hack, who taught at Harvard Kennedy School, and has now been rewarded as a Professor of the Practice of International Development at Georgetown University’s School of Foreign Service. Devarajan’s concern is taxes. He blames regressive tax policies that subsidize such lifestyles of the ‘rich’. Yet he acts unaware of the policies that only promoted the old policies of the spendthrift white non-settler colonial white man. And ultimately, his attack is on any attempt by Sri Lanka to industrialize. Devarajan is a big fan of the import-export mafia & their fake industry:
*
‘One case [where there] was rapid economic growth & poverty reduction. That
was in the late 1970s, when the country decided to remove import barriers. At that time,
there was great concern that import-substituting firms, & therefore the manufacturing sector,
would collapse. The small garment sector that catered to the domestic market feared that it
would not survive the influx of cheap imports. Instead, when trade was liberalised,
the economy boomed. Per capita GDP growth accelerated. The unemployment rate fell
to 4%. Rather than collapsing, the garment sector took off, thanks to cheap
imported inputs & foreign investment. In per capita terms, Sri Lanka’s garment
exports to the US far exceeded those of Bangladesh, China & India.’
Shantayanan Devarajan, Accountability:
The Key to Sustained & Inclusive Growth in Sri Lanka
*
The fraud of the so-called ‘garment industry’ is exposed here in an excerpt from the parliamentary Hansard, in SBD de Silva’s The Political Economy of Underdevelopment:
‘Hon R de Mel [Minister of Finance]:
In other words, up to date the only attraction in Sri Lanka is to collar the quotas
which are still available to Sri Lanka. Korea has exhausted her quota. Hong Kong
has exhausted, Singapore is exhausting; so the only thing [foreign investors]
find attractive in Sri Lanka is to collar Sri Lanka’s quota. Do you agree?
Mr AY Gnanam [a leading Sri Lankan industrialist]: I agree.
Hon de Mel: Could Sri Lankan industrialists not have got this quota
and done this industry without any foreign help?
Mr Gnanam: If you had announced your offer of a 5-year tax holiday
to industrialists in your last but one Budget, then all the garment industries
would have done very much better than anyone else, because Sri Lanka has
got the best garment industries… If they were allowed to export [with a tax
holiday] they would have done without the Free Trade Zone.
de Me1: In other words, the FTZ has only deprived the Sri Lankan industrialists.’
(‘Parliamentary Series No17 of the 1st Parliament
of the Democratic Socialist Republic of Sri Lanka,’
2nd Report, 22 Feb 1980, p27l)
*
•‘Sri Lankan market too small for entrepreneurs, industrialists to survive: AKD,’ headlines the Daily Mirror. Adding: ‘An NPP government will establish trade embassies in the African region to find emerging markets there… Only 3.8 million people out of the 22mn population come to the market for commercial purposes on a day, whereas some 400mn people come to the market in India.’ While it is possible the JVP leader is being misquoted, as some of the more intelligent responses in the Comments Section point out: ‘This comment seems off. No market is too small for entrepreneurs; markets should always be viewed in proportion. Many European countries have much smaller populations than Sri Lanka but are highly entrepreneurial & industrialized.’ Also: ‘Singapore has a small population with a small market… Switzerland has a small population & small market.’ The arguments against industrialization come at us fast and furious from all directions….Left and Right, South, North, East and West.
*
• The Asian Progress Forum is launching The Political Economy of Sri Lanka’s Debt Crisis on Tuesday, 10 September, at 4pm at the Russian Centre, 10 Independence Avenue, Colombo 07. This made us recall how there is a lot of hasty talk about ‘political economy’ these days. But are Sri Lanka’s economic challenges only about debt and balance-of-payments? What are the missing notes, in this daily recited mantra about how lazy & entitled we act… Is everybody living beyond their means, or is it a particular class? And what about happiness? How do we build this path to happiness? Do we import the materials & skills?, or don’t we also have to build the builders & the materials with our own resources? Do we keep importing a happiness that adds to more misery – importing a happiness of fleeting conspicuous consumption that multiplies debt only paid in part by exporting our wealth or workers & resources? An imported happiness that puts off our most needed priorities, a strategy for modern industrialization?
*
• Sri Lanka finds itself being tagged to the latest headline news. The latest is the recent arrest by France of billionaire Telegram founder Pavel Durov, who is also a citizen of St Kitts & Nevis, through its Citizenship by Investment Program. St Kitts & Nevis is also a tax hideout to the Hamilton Reserve Bank, which has taken Sri Lanka to courts in New York asking for full repayment of $250million plus interest in arrears. The Hamilton case is seen as a diversion to put more pressure on the country. Sri Lanka’s finance ministry proudly announced an agreement with the ad hoc group of International Sovereign Bond (ISB) holders who hold ~50% of the total debt liability. Yet there is still no final agreement – it has to be endorsed by all of the ISB holders, especially Hamilton Reserve Bank, miscellaneous creditors, & the IMF! Meanwhile, there is little sunlight about the bond holders, including ‘some of the world’s largest financial institutions’ seeking to intervene in the Hamilton Bank case against the Government.
Elon Musk & Wall Street’s ISB sharks who are fronted by the IMF will just have to keep up their act of waiting…
The Central Bank has relaxed the mandatory export conversion period in the latest exports proceeds conversion rule which came into effect from 4 November.
As per the new rules, the mandatory export conversion period has been extended to roughly a three-month period from an earlier one-month period.
By these rules, the period applicable for exporters of goods for mandatory conversion of residual of their export proceeds into Sri Lanka Rupees has been extended up to the tenth (10th) day of the month after expiration of three (03) calendar months (including the month of receipt) from the date of receipt of export proceeds/supplier receipts, as against the period of seventh (07th) day of the following month, which had been stipulated in the previous rules,” the CB said in a media release.
With this move, the CB claimed that it has substantially relaxed the period applicable for exporters of goods to convert their export proceeds into Sri Lanka Rupees. However, the exporters, in particular apparel exporters have urged the CB to remove the mandatory conversion of export proceeds altogether.
The new mandatory export conversion rules termed Repatriation of Export Proceeds into Sri Lanka Rules No. 01 of 2024” (Rules), was published in the Gazette Extraordinary No. 2391/02 on first of July this year . It was approved in parliament on 4th of September this year and came into effect on the same date.
The CB tightened the mandatory export conversion rules as the country fell into forex and economic crises. The CB noted the stabilisation of macroeconomic indicators, in particular the developments in domestic foreign exchange market conditions as the key reason to ease these rules. (NF)
Colombo, September 09 (Daily Mirror) – The National People’s Power (NPP) has proposed to introduce a contributory pension scheme for private sector employees in a move to ensure a dignified and happy retired life, NPP leader Anura Kumara Dissanayake said yesterday.
Speaking at the 25th convention of the Inter Company Employees’ Union (ICEU), Dissanayake said everyone must enjoy a dignified and a happy retired life claiming that most of the retired persons lead miserable lives.
He said private sector employees make a huge contribution to the country’s production. “There is a time limit for anyone to work. Everyone must enjoy a dignified and happy retired life. We have a proposal to introduce a contributory pension scheme for private sector employees,” he said.
Dissanayake said a salary increment procedure is needed to increase salaries for the private sector every six months in line with the cost of living instead of collective agreements of two or three years.
“Most of our companies have collective agreements of two to three years to increase salaries. It is not appropriate for an unstable economy like ours. If the economy is stable, two to three years of collective agreements are fine. But, in Sri Lanka, the cost of living index is constantly changing. So, we need to revise salaries every six months in line with the cost of living,” he said.
He also said the manpower system which started one and half decades ago must not continue as it a modern form of slave trade.
“A system of recruiting employees through manpower companies began one and half decades ago. It is similar to modern slave trade. Your labour is traded through an agent for a commission. It is not justifiable. That model should not continue,” he said.
Absence of fuel and gas queues are often cited as signs of economic recovery by politicians on the election platforms. On the contrary there is nothing to boast about because our poor people are worse off than they were. How fuel could be imported ending the queues was due to the fact that the foreign loan payments had been stopped and friendly countries had chipped in with some dollars and the country was able to find foreign exchange to import fuel and gas. This cannot be boastfully claimed as a stroke of a genius, for that was the obvious thing anybody would have done. After the Covid pandemic was brought under control export earnings, foregn remittance and tourism returned to normal and this resulted in the improvement of foreign reserves. This is the normal course of events after a pandemic and it would have happened under any sensible government. As all of that happened after the country had come out of an acutly perilous dire straits caused by the blunders of the previous SLPP president the change appeares wonderous and the work of a genius! Know the track record of these geniuses!
Contrary to all claims, however, the middle class and the poor are facing unprecedented difficulties in trying to barely exist. They have cut down their meals from three to two and from two to one and are getting deeply into debt. This is reflected in the poverty level which has increased from 14% to 26%. Should this happen if the economy is recovering? Economic recovery at the expense of the poor is meaningless. Nutrition, health and education of the nation have been irreperably damaged. Disastrous repercussions of this catastrophy will be experienced in the future. The rich getting richer in a wierd economic recovery will not help to rectify this irreparable damage. We may have in our hands a poorly nourished, unhealthy and uneducated population incapable of undertaking any development work and the country may be preyed upon by foreign powers.
Let me reproduce an extract from a World Bank report on Sri Lanka issued in April 2024 ; …poverty rates continued to rise for the fourth year in a row, with an estimated 25.9% of Sri Lankans living below the poverty line in 2023. Labor force participation has also seen a decline, particularly among women and in urban areas, exacerbated by the closure of micro, small, and medium-sized enterprises (MSMEs). Households are grappling with multiple pressures from high prices, income losses, and under employment. This has led to households taking on debt to meet food requirements and maintain spending on health and education”.
Let us look at the other major economic problems Sri Lanka is facing apart from the gigantic problem of increasing poverty mentioned above. Sri Lanka has an external debt of USD 55 billion in the first quarter of 2024 which has risen from 54 billion in the last quarter of 2023. We have time till 2028 to start servicing these foreign loans. According to the debt schedule of the Central Bank debt servicing would amount to about 4% of the GDP annually starting from 2028. We earned USD 15 billion in exports but spent USD 16 billion for exports in 2023. We spend more foreign exchange than we earn and this situation may not change by 2028. Our export earnings have been around 20 % of the GDP since 1977 and it has not improved despite all effort. We have borrowed to pay loans and this may be expected to continue after 2028 also. Will we have money for poverty alleviation? Most unlikely.
Most of the presidential candidates do not seem to have addressed this aspect of the problem. Their plan seems to be to attract foreign investers and increase production of export goods. This had been Sri Lanka’s strategy since 1977 but with little success. Most importantly the purchasing power of the middle class and lower strata has been declining over the years. When household incomes and expenditures are calculated on the basis of purchasing power parity it is seen that the poor has been getting poorer while the rich has got richer. This picture is the eternal and persistant feature of the present global economic model which is based on neo-liberalism. It is incapable of delivering any other result. Neo-liberalism is the worst form of capitalism. On the other hand Keynesian policies which inserted a human face into capitalism had been kinder to the poor during the period 1950 – 1970 in the western countries. In 1970s Margeret Thatcher under the guidance of Friedrich Hayek introduced neo-liberalism saying There is no alternative”.
There is no alternative if what is wanted is the continuation of the present system geared to ensure the flow of wealth from the poor to the rich. There is no alternative if what is wanted is development of the already developed at the expense of the poor and the environment.
Sri Lanka may be able to come out of the debt-poverty trap if it follows a import substitution policy instead of an export led economy. Consider that we spend more than 50 % of foreign exchange to import essential food items that can be locally produced. But we do not attempt to attain self-sufficiency perhaps because it is cheaper to import. This mentality of looking at everything from the money and profit angle must give way to a philosophy of self-sufficiency in all what we need to lead a healthy life. If 50 % of foreign exchange is saved we will have enough for poverty alleviation.
With less than three weeks left to choose a President who will lead our country for the next five years, the urgency of our decision is palpable. Many of us, including myself, are still weighing our options. We often chose the ‘lesser of two evils’ in past elections. However, this time, the issue of corruption seems to be taking precedence over economic stability for a significant number of voters.
Many I have spoken to, particularly among the working class, have stated, I am planning to vote for the NPP as the others have done nothing but steal when in power, and we feel that only the NPP will tackle the issue of corruption among those in power.”
It’s evident that Ranil Wickramasinghe (RW), the current President, is struggling to convince the public of his commitment to fighting corruption. This is particularly disheartening given the widespread public outcry, including from the corporate sector, expressed in the ‘Aragalaya.’ The economic crisis was a catalyst for this public demand for action. People were fed up with rampant corruption and how politicians have run the country since independence. This collective frustration is not just palpable, it’s a clear sign of the public’s dissatisfaction and the urgent need for change.
The depths to which corruption among politicians had taken root was demonstrated when the former auditor general Gamini Wijesinghe, leading up to the 2019 presidential election, publicly stated that the country would benefit even if the concerned minister were paid a 10% commission on projects promoted rather than allowing the project to go ahead, as the financial burden for the people would be significantly less if the project were not undertaken. Undoubtedly, his comments were based on what he had witnessed over several decades of public service.
Regrettably, this sentiment is shared by a majority of voters, and RW and his cabinet of ministers have not taken any substantial steps against corruption in the past two years. Despite the country’s dire economic situation, this prevailing belief only reinforces the notion that corruption continues to thrive and is a significant factor in our economic woes. This lack of action against corruption is not just a source of disappointment, it’s a cause for disillusionment for many.
The ongoing case against the former Minister of Health and several others involved in importing substandard medicines is a case in point. The concerned minister was allowed to retain the portfolio despite a motion of no confidence against him brought by the opposition in parliament and various other accusations being leveled against him. When the heat was too intense, he was relieved of his portfolio and made the minister of the environment! The fact that he was not banished from the cabinet only fortified the feeling that RW was not serious about tackling corruption.
The controversy surrounding the decision to outsource the visa-granting process to a foreign service provider at a significantly higher cost has deepened the public’s skepticism about corruption within the government. The Supreme Court’s decision to overturn the cabinet’s ruling until the case is resolved only adds weight to the argument that the process was flawed. The recent cabinet decision to allow citizens of 38 countries to be granted a visa on arrival seems to confirm the government’s mistake in outsourcing the visa-granting process at a higher cost to the tourist.
RW has consistently failed to dispel the widely held belief that he was involved in the Central Bank Fraud.” In addition, the wholehearted support for him by several cabinet ministers perceived by the public as corrupt has further contributed to the public’s disillusionment with RW.
RW has publicly said that he is prepared to prosecute anyone against whom there is hard evidence of corruption. I presume he means that he will ensure that the Attorney General’s department prosecutes the case. It is a bit difficult to agree with him, given that during the last two years under his administration, no progress has been made in the case against a former CEO of Sri Lankan Airlines, who stands accused of having received payments of US $2 million to his wife’s bank account in Singapore.
RW based his campaign on the fact that he took up the Prime Minister’s post and then the President’s post when the country was in dire straits, and no one else was prepared to do so. He states in parrot fashion that Sajith Premadasa ran away from the responsibility and did not have the guts to take on the job. Whether he deserves any credit for that, given that it was a position that he drooled over for many decades but understood that he could not attain through a popular vote, is worthy of analysis outside this article.
His other claim is that he stabilized the economy and ensured it did not go the same way as Lebanon, which is undoubtedly correct. I was someone who supported an IMF programme to overcome the economic crisis. That was the only pragmatic solution then, and RW had no hesitation in accepting such a solution that involved enforcing some harsh measures, which is a credit to him.
In an insightful article titled The Hard Truth; Supporting Ranil Now Could Trigger the Next Crisis”, the author Ravi Ratnasabapathy states, It required substantial behind-the-scenes work, most of it quite invisible to the public, and this is not appreciated. It is notable for what was avoided, most critically a domestic banking crisis, for much as what transpired. A domestic banking crisis is frequently associated with a crisis of this nature, and its avoidance was a mean feat.”
In his article, the author argues for the continuity of RW’s economic policy. However, given his unpopularity with the voters, he proposes that RW withdraw from the election, following in Biden’s footsteps, and his votes be cast for Sajith. This strategy would prevent Anura Kumara Dissanayake (AKD) from winning the election.
There is a valid concern that AKD and his party’s economic policies will trigger another financial crisis that might be worse than the one we endured in the first half of 2022. We must be mindful that the experiment of electing Gotabhaya Rajapaksa as President in 2019 was a disaster. His inexperience in governance and economics was a significant cause of the economic crisis. We must be mindful that a president with hardly any experience holding high office and an inexperienced cabinet (assuming NPP will win the general elections) will be a gamble.
The NPP and ADK have responded by saying that those who claim to have previous experience holding high office are responsible for the economic downfall, which is also valid.
As I write this article, the news that the cabinet has approved for public servants’ salaries to be increased by about 25% effective 01st January 2025 is yet another confirmation that nothing much has changed about how our politicians perceive the public and try to deceive them by making unrealistic promises. That this announcement was made a couple of days before the postal voting by public servants is deplorable. Come the 21st of September, it will undoubtedly be Hobson’s choice for most of the electorate.
Sri Lanka is gearing up for its first Presidential election after the Island nation was hit by massive economic/political turmoil in 2022. On July 26, the Independent Election Commission of Sri Lanka, after months of speculations, announced that the ninth Presidential election of the country is scheduled to be held on September 21. A record 38 candidates will compete in this month’s election, which will shape the nation’s political and economic future.
The primary contenders in the race are the incumbent President Ranil Wickremesinghe, the leader of the opposition Sajith Premadasa, Anura Kumara Dissanayake of National People’s Power (NPP), and the Rajapaksa clan—Namal Rajapaksa of the Sri Lanka Podujana Peramuna (SLPP). In addition to these candidates, Nuwan Bopage has been designated as the Presidential candidate for the Alliance for People’s Struggle, which was established by the Aragalaya activists.[1] Other prominent candidates are Former Justice Minister Wijeyadasa Rajapakshe, ex-SJB (Samagi Jana Balawegaya) chairman/parliamentarian Field Marshal Sarath Fonseka and P. Ariyanethran— a common Tamil candidate” [although at the central committee meeting of Ilankai Tamil Arasu Kachchi (ITAK), held on 1 September, the main party of the Tamil National Alliance (TNA) decided to back the opposition leader Sajith Premadasa. [2] However, a section of the party still insists on supporting the common Tamil candidate [3]]. It is expected that the economic crisis, policy decisions, and anti-incumbency sentiment to a certain extent will influence the upcoming presidential race. [4]
The Countdown Starts: Official Launch of Election Campaigns
The opposition leader Sajith Premadasa was the first to kick off his election campaign with an inaugural rally in Kurunegala on August 16, [5] pressing on building a resilient economy and empowering every citizen of the country. [6] On 17 August, President Ranil Wickremesinghe officially started his 2024 presidential election campaign with a rally in Anuradhapura[7], the ancient capital of Sri Lanka. The President underscored his achievements over the past two years, emphasizing how he has restored economic stability [8] to the bankrupt nation, securing IMF bailout, and pledged to enhance this stability further through expected concessions from the creditor nations. [9] However, he often faces criticism for being a mere figurehead for the Rajapaksas, a family blamed for the island’s bankruptcy, nepotism, and corruption. [10] On the same day a rally in support of the presidential candidate Anura Kumara Dissanayake was also held in Matara where he assured the public that a NPP led government will reform and purify the country’s political landscape. [11] SLPP candidate Namal held its maiden rally in the Kada Panaha area of Anuradhapura on 21 August where he tried to maintain a distance from the unpleasant legacy of the previous Rajapaksa regime[12]; while at the same time intended to capitalize on the traditional support base of the Rajapaksas. [13]
Voter Insights: Analyzing the Latest Poll Survey Data
If estimates are to be believed it is unlikely that a single candidate will win a clear majority in the first round of the impending poll. The June report of the Institute of Health Policy’s Sri Lanka Opinion Tracker Survey (SLOTS) revealed that support for SJB leader Sajith Premadasa rose to 43% (+4) as compared to the month of May. [14] In contrast, support for NPP/JVP leader Anura Kumara Dissanayake fell to 30% (-6), while support for President Ranil Wickremesinghe increased to 20% (+3), and a generic SLPP candidate, as Namal Rajapaksa’s name had not yet been disclosed by that time, garnered just 7% of votes. [15] However, the latest July estimates show Dissanayake and Premadasa leading neck to neck at 37% and 36% respectively with 23 % support for Ranil, a substantial surge, while support for a generic SLPP candidate remained unchanged at 4%.[16] It was further estimated that support for Dissanayake was notably strong among the youth, with 54% of them backing him. [17] It was also significant among Sinhala voters, who supported him at a rate of 41%, and the wealthiest third of voters, where his support was 42%.[18] In contrast, Sajith Premadasa garnered more support from the poorest third of voters, with 42%, and from minority groups, receiving 51% support from Sri Lankan Tamils and 65% from Muslims. [19] It is reported that President Wickremesinghe’s support grew with age, peaking at 38% among individuals aged 60 and older. [20] Additionally, he garnered more support from women (26%) compared to men (17%).[21] However, in recent weeks, the Commissioner General of Elections had to warn voters about various election surveys leading up to the polls and urged them not to feel pressured to alter their opinions based on these surveys. [22] In addition, Sri Lanka has experienced the spread of false information related to the upcoming election, particularly on social media, deceitfully attributed to organizations like the United Nations and the European Union, underscoring the urgent need for voter awareness and political literacy. [23]
Revealing the Vision: Unveiling the Election Manifestos
On August 26, NPP led by Anura Kumara Dissanayaka released its Election Manifesto titled ‘A Thriving Nation, A Beautiful Life’[24], focusing on several areas including addressing corruption-related matters, establishing a new National Development Bank and re-negotiating with the International Monetary Fund to alleviate the hardship of the poor.” [25] However, supporters of Ranil Wickremesinghe were quick to criticize the document for its lack of clarity regarding the financial requirements to fulfill its promises, suggesting that it resembles wishful thinking more than a practical plan. [26]
On 29 August, the incumbent President Wickremesinghe unveiled his election manifesto titled ‘Five years of winning the country with Ranil.’ The manifesto is built around five core principles consisting of; The Theravada Trade Economy (which flourished during Anuradhapura Kingdom), Operation – Beyond 2025, Towards a Prosperous Nation, A Win for the Motherland, and A United Sri Lanka was first presented to religious leaders, led by the Maha Sangha and then to the youth of the country by Wickremesinghe.” [27] Wickremesinghe highlighted that his plan focuses on lowering the cost of living, generating employment, offering tax relief, fostering economic growth, and introducing initiatives to guarantee that every citizen has the opportunity to own land and a home. [28] SLPP Presidential candidate Namal officially launched his election manifesto titled ‘Namal Dekma’ on 2 September focusing on four main thrust areas – state priorities, innovation, investment and independence. [29] On the other hand, opposition SJB leader Premadasa will reportedly release his election manifesto titled ‘Win For All’ on 04 September. It is anticipated that in the manifesto he primarily stressed on five key points – Building a resilient economy, empowering every citizen, enhancing government service, protecting the quality of life, and safeguarding the nation.” [30]
Political Loyalties Redefined: The Unprecedented Surge in Party Crossovers
However, the upcoming Presidential election is characterised by an unprecedented trend of party crossovers and changes in political loyalties. [31] It is reported that about 130 of SLPP’s 145 elected/appointed MPs have switched sides joining either the current President, SJB or Dilith Jayaweera’s Mawbima Janatha Party (MJP) ahead of the election. [32] As the single largest switching of allegiance in Sri Lanka’s political history,” a record nearly 100 SLPP MPs have pledged their support to the incumbent President Ranil Wickremesinghe. [33] Although, the repercussions of these defections will be revealed only after 21 September, yet it has definitely weakened the morale of the SLPP. Poll surveys conducted last year also stated a change in the voting pattern of Sri Lankans where it is estimated that an overwhelming majority of the SLPP voters have shifted their support to NPP or SJB with the maximum people preferred the former over the latter. [34] The reason behind this is that a large number of Sri Lankans held the wrong policies of the Rajapaksas responsible for the economic catastrophe in the country in 2022.
As a reminder to the economic crisis and the relative ease brought to the country by Wickremesinghe, the Election Commission has given the symbol ‘cooking Gas Cylinder’ to the current President who is fighting the poll as an independent candidate. In addition, President Wickremesinghe is endorsed by a grand coalition of more than 30 political parties and groups especially the breakaway factions of the Rajapaksa family[35] in the forthcoming election. Earlier 13 ex-SJB Parliamentarians had backed the current President which has given new momentum to his campaign. [36] Scholars are of the opinion that although these defections have clearly impacted the SLPP/SJB and strengthened Wickremesinghe’s camp, they might not lead to substantial electoral advantages. [37] This skepticism is heightened by the widespread criticism on social media, where the electorate expresses their frustration with this kind of political manoeuvring. [38]
Conclusion
To conclude, Sri Lanka will go to the polls for a pivotal presidential election on 21 this month which is expected to have far-reaching implications for the country’s future. The initial group of European Union election observers, along with a delegation from the Commonwealth Observer Group, had already arrived in the island nation to oversee the upcoming presidential election. [39] Additional international representatives are anticipated to arrive in the country in the coming weeks. The forthcoming election will be critical for the country with approximately 17.1 million eligible voters, including a million first-time voters, and 56% of the electorate being women. [40] Given that all the presidential candidates are male, it will be intriguing to see if the aspirations and concerns of women, including the youth, the rural population, minorities, and all sections of society are adequately represented.
Amid economic challenges, political reform debates, and social changes, this election is poised to be one of the most consequential in Sri Lanka’s recent history. With a backdrop of multifaceted challenges, the new administration in the country will need to address immediate economic concerns while also establishing the foundation for long-term stability and prosperity. Eminent journalist Dilrukshi Handunnetti eloquently wrote, The next president inherits a thorny crown and will not have things easy. Voters have a key role to play, not only in selecting the next president but demanding accountability from him, demanding policy statements that are not figments of imaginations but are truly actionable .” [41] As Sri Lankans prepare to cast their votes, this election represents a crucial moment—an opportunity to shape the future of a nation standing at a crossroads.
Colombo, September 7 (Daily Mirror) The National People’s Power (NPP) is committed to ensure judicial supremacy and the concept of equality before the law under its government, NPP leader Anura Kumara Dissanayake said today.
Speaking at the NPP lawyers’ conference, he said judicial supremacy and the concept of equality before the law are at stake in Sri Lanka.
He said the Supreme Court rules that the President violates the Constitution and on the other hand the President fails to respect the Supreme Court verdict.
“So, Sri Lanka is no longer a country with judicial supremacy. Such a country is not accepted by the world,” he said.
Dissanayake said the NPP assures to re-establish the concept of equality before the law and judicial supremacy.
“We will ensure the independence of the judiciary. We do not need to regulate the judiciary for our personal objectives,” he said.
He will question National Peoples Power (NPP) candidate Anura Kumara Dissanayake at all rallies till he responds, President Ranil Wickremesinghe said today.
“I questioned Anura whether he will tender an apology to the people in the North for threatening them. I heard that he has responded to this remark of mine which I made in Jaffna. I have also heard that he has fallen ill. I wish him a speedy recovery,” Wickremesinghe told an election rally in Welimada today.
“Sunil Handunetti has said an NPP government will set up export processing zones and will promote exports. However, Anura’s manifesto says an NPP government will abolish free trade agreements which Sri Lanka has already entered into. How can you develop exports without free trade agreements? I want Anura to respond to this question. I will raise these questions at all rallies till he responds to me,” he added.
President Ranil Wickremesinghe announced his intention to abolish the line room system, expressing his hope to provide plantation workers with free land rights and the opportunity to live in modern villages equipped with advanced facilities.
He made this statement while speaking at the Puluwan Sri Lanka” rally in Haputale earlier today (08), which was organized to support President Wickremesinghe’s bid for re-election.
During his address, the President reflected on the hardships faced by the public during the country’s crisis, particularly the fear and uncertainty experienced by those standing in queues for fuel, gas, and medicine.
He emphasized that he took on the presidency to correct those issues and is now seeking a mandate to continue the reforms initiated over the past two years.
He stated that rival candidates Sajith Premadasa and Anura Kumara Dissanayake propose to change the current program, but doing so would forfeit concessions received by Sri Lanka, potentially leading to a decline in the rupee once again.
I believe the people of this country are not willing to take that risk. Their promises do not suit the economic needs of the country today,” he said.
He said they have developed a plan to shift the country’s economy towards an export-driven model, similar to countries like Vietnam and Tailand, which will allow Sri Lanka to build a surplus of foreign reserves.
We are also focused on raising wages for plantation workers, ending the line room system, and creating plantation villages where residents will receive free land rights, granting them the same privileges as other village dwellers.”
IANS) Sri Lanka has earned over two billion US dollars from tourism in the first eight months of 2024, the latest data from the country’s Central Bank shows.
Sri Lanka earned 2.17 billion dollars in the above period, which is a 66.1 per cent increase from the same period in 2023, the Central Bank data shows.
Tourist arrivals also increased by 50.7 per cent in the same period, and 1.36 million tourists arrived in the first eight months of 2024, the central bank data shows, Xinhua news agency reported.
In August 2024, arrivals were 164,609, an around 20 per cent increase compared to August 2023, Central Bank data shows.
Tourism is one of Sri Lanka’s top foreign revenue generators.
Sri Lankan tourism authorities are expecting three million foreign tourists in 2025, Sri Lanka Tourism Promotion Bureau Managing Director Nalin Perera said recently.
