|Event Start Date:|
October 6, 2021
|Event End Date:|
October 6, 2021
On August 31, Sri Lankan President Gotbaya Rajapaksha declared an economic emergency in the Island nation. The move was triggered by rising food prices, depreciating currency and depleting foreign exchange reserves. The crisis however has not been an unanticipated event. Sri Lankan’s macroeconomic landscape has been on a steady downward spiral with growth decelerating, combined with a deteriorating fiscal balance. The crisis unfolding in the country can be traced back to past policies and actions of the government. This has manifested through frequent balance of payment crisis and instability evident by the fact that in a period of around 50 years Sri Lanka has been in 16 macroeconomic stabilisation programmes with the IMF. Currently, the country is facing one of the worst macroeconomic crises in history.
The townhall organised by CPPR will comprehend the ongoing economic crisis of Sri Lanka and the lessons it provides to South Asian counterparts. It will present an opportunity to discuss how the policies of the central bank and the government are at the crossroads in managing the fiscal health of the economy of a country. It is also of academic interest for the students of economics to understand the fall out of the policies like protectionism, raising import tariffs, and restrictions to open and free trade etc.
Speaker: Dr. Indrajit Coomerswamy, Sri Lankan Economist and the 14th Governor of the Central Bank of Sri Lanka.
Discussant: Mr. Shivdas B Menon, Former Chairman of Confederation of Indian Industry & Managing Director at Sterling Farm Research & Services Pvt Ltd .
Moderator: Ms. Nissy Solomon, Senior Associate – Research, CPPR
Date and Time: Oct 6, 2021, Wednesday, 5:00pm IST to 6:00pm IST
The CPPR Townhall Series is a live virtual discussion forum for leading minds across the world to converse & critique the state of play in public policy.
The inaugural edition will feature a deliberation on the Economic Emergency in Sri Lanka.