Business
‘Driving Policy Action in Sri Lanka from Economic Crisis to Recovery’
The Institute of Policy Studies of Sri Lanka (IPS) held a seminar on 25 October 2022 to coincide with the release of the Institute’s annual flagship report, Sri Lanka: State of the Economy 2022, on the theme Driving Policy Action from Crisis to Recovery. IPS researchers Chathurrdhika Yogarajah and Kimuthu Kiringoda captured the highlights of the discussion.
Session I: Economic Crises and Policy Adjustments for Stabilisation
Presenter:
Dr Dushni Weerakoon, Executive Director, IPS
Keynote Speakers:
Dr Nandalal Weerasinghe, Governor, Central Bank of Sri Lanka
K M Mahinda Siriwardana, Secretary to the Treasury/Ministry of Finance, Economic Stabilisation and National Policies
In her presentation, Dr Dushni Weerakoon drew attention to the need to minimise output losses in the short term amidst the ongoing economic challenges. Towards this end, (1) debt restructuring negotiations must be concluded as swiftly as possible and (2) credibility established by stabilising macroeconomic fundamentals. In the medium term, Sri Lanka will require more macroeconomic flexibility without throwing standardisation efforts into reverse, along with a gradual shift to an emphasis on growth aligned with an appropriate long-term policy framework.
Dr Weerakoon further noted that Sri Lanka’s inflation trajectory over the last few months had been driven primarily by high food inflation and increased transport costs. However, there has been a moderation in food price inflation in recent months. With Sri Lanka’s current elevated inflation levels, there is no scope for trade-offs. Anchoring inflation expectations is essential to help contain inflation at a lower economic cost. Equally, it is necessary to watch for wage catch-up in the context of the erosion of real wages, tax-related income cuts, and higher labour mobility.
Dr Weerakoon stressed the need to bring inflation under control to stabilise the exchange rate. Persistent high inflation leads to immediate or anticipated currency depreciation, as experienced during the last 12 months. The exchange rate has stabilised to some extent. Still, in recent months, because of the appreciation of the US dollar, exchange rates are coming under pressure again, and the Sri Lankan currency is no exception. Managing the exchange rate will continue to be one of the biggest macro policy challenges for Sri Lanka in the coming months.
The IPS’ annual flagship report, Sri Lanka: State of the Economy 2022 is available for sale at IPS, No. 100/20, Independence Avenue, Colombo 07, and at leading bookshops island-wide. For more details, contact Amesh Thennakoon, Mob: +9477 373 7717; Dir: +94-11-214 3107; Gen: +94-11-2143 100
Link to original blog:
https://www.ips.lk/talkingeconomics/2022/10/31/driving-policy-action-in-sri-lanka-from-economic-crisis-to-recovery/
Business
UN Global Compact Network Sri Lanka mobilizes business to lead with purpose
As businesses navigate an increasingly complex operating environment shaped by workforce transformation, evolving stakeholder expectations, technological disruption and shifting market demands, strengthening performance requires more than new strategies. It requires new ways of thinking, leading, and collaborating.
It was against this backdrop that UN Global Compact Network Sri Lanka convened CATALYZE 2026: Social, bringing together business leaders, sustainability practitioners, policymakers, development partners and industry experts to mobilize collective action and equip businesses with the knowledge, partnerships and practical approaches needed to strengthen performance through responsible business.
More than a forum for dialogue, CATALYZE 2026 was designed to help businesses think differently about performance. It reinforced that long-term success is increasingly shaped by how organizations lead, uphold human rights, foster inclusive workplaces, strengthen ethical governance, and build cultures that enable innovation, resilience and trust. Responsible business is no longer separate from business performance — it is fundamental to it.
Aligned with the UN Global Compact’s 2026–2030 Global Strategy, the Forum reflected its three strategic pillars — Equip, Catalyze and Advance — by strengthening business capability, fostering collaboration and mobilizing leadership to accelerate progress on social sustainability.
UN Global Compact Network Sri Lanka’s approach to social sustainability centres on driving this change — recognizing that meaningful progress comes not only through policies and commitments, but through the everyday decisions, leadership behaviours and organizational cultures that shape how businesses operate. CATALYZE 2026: Social encouraged participants to move beyond intention towards implementation, embedding responsible business practices into strategy, governance and organizational culture.
Opening the CATALYZE 2026: Social, Rathika de Silva, Executive Director of UN Global Compact Network Sri Lanka, spoke to the role of responsible business leadership in strengthening Sri Lanka’s global competitiveness:
“Sri Lanka has the workforce, resilience, and opportunity to compete not by being the cheapest producer, but by becoming the most trusted. As global expectations evolve, compliance is no longer simply a cost of doing business — it is the foundation of market access, and the decisions we make today will determine how strongly we compete in the markets of the future.”
The Forum featured keynote addresses, leadership dialogues and technical sessions on the issues shaping the future of business, including business integrity and anti-corruption, human rights, neurodiversity and inclusive workplaces, artificial intelligence and the future of jobs, the Women’s Empowerment Principles (WEPs), responsible sustainability communications, and workforce resilience. Together, these discussions highlighted how responsible leadership, inclusive practices, and strong governance contribute to organizational resilience, innovation, and long-term performance.
Business
A regional conversation on the future of English language teaching
Free British Council online conference brings together leading educators from across South Asia to explore how creativity, inclusion and technology can help prepare learners for a rapidly changing world
The British Council has announced the South Asia TeachingEnglish Online Conference 2026, a free three-day event that will convene educators, researchers and teacher educators from across the region to examine one of the most pressing questions facing education today: how can schools equip learners with the creativity, adaptability and communication skills needed to thrive in an increasingly complex world?
Taking place from 23–25 July 2026, the online conference comes at a time when education systems across South Asia are grappling with the challenge of balancing curriculum demands, assessment pressures and evolving learner needs. While English remains a critical gateway to academic and professional opportunities, educators are increasingly seeking approaches that move beyond language acquisition alone to foster critical thinking, collaboration, learner agency and participation.
Business
The Ceylon Chamber convenes dialogue on energy security and standards for Sri Lanka’s energy transition
The Ceylon Chamber of Commerce recently hosted a discussion titled “Energy Transition in Sri Lanka: Strategic Insights from Global Markets”, bringing together representatives from the public and private sectors, industry experts, academics, and other stakeholders to examine the opportunities and challenges associated with Sri Lanka’s evolving energy landscape.
Held at a time when countries around the world are accelerating their transition towards cleaner, more resilient, and technology-driven energy systems, the event provided a timely platform to examine renewable energy not only as an environmental priority but as a strategic pillar of national energy security, with implications for economic growth and long-term competitiveness. The discussion also considered the increasing importance of reliable energy infrastructure in meeting the growing demands of digital transformation, including emerging technologies such as artificial intelligence, electric mobility, and data centres.
The programme covered a wide range of topics relevant to Sri Lanka’s energy future, including renewable energy development, energy security, regulatory and policy frameworks, electricity sector reforms, energy storage systems, grid modernization, investment and financing considerations, and international experiences in energy transition. Particular attention was given to the need for creating an enabling environment that supports innovation, attracts investment, including the technical and safety standards required to protect consumers and businesses as storage and solar adoption scales nationally.
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