Europe Solidaire Sans Frontières
Since the end of the war, Sri Lanka’s economy is being transformed through a rapid process of financialisation. Such widespread financialisation facilitated infrastructure development, a real estate boom linked to urbanisation and expansion of credit leading to increasing indebtedness of the (...)
Public sector employees’ opinions on new measures to increase efficiency
In a context where Sri Lanka has very limited and not-so-promising options to face the possible food crisis and the worsening economic crisis, preparing the country to minimise the impacts of the same and save resources (...)
The next 20 days are crucial for Sri Lankans. This is due to the second or policy level discussions with the International Monetary Fund (IMF) under its economic adjustment programme, scheduled to commence this week to find a solution to the existing severe solvency and external liquidity (...)
Sri Lanka is currently experiencing a foreign currency sovereign debt default for the first time in the country’s post-independent history. On 12 April, Sri Lanka announced that due to severe foreign currency shortages, it will suspend foreign debt repayments, except for repayments to (...)
It is an undeniable fact now that the market system has broken the lives of majority Sri Lankans. Real value of wages lost all its meaning with the collapse of the rupee. Unemployment, underemployment, hunger, malnutrition, lack of essential medicines and inability to afford education are (...)
Dr. Ahilan Kadirgamar made this presentation at an online discussion on the current economic crisis in Sri Lanka, organised by the Kuppi Collective on April 26, 2022. It was transcribed by Treshan Fernando and edited for publication by Polity.
In this talk, I wish to address three questions: (...)
Well before the pandemic, developing countries had experienced multiple waves of debt accumulation in the era of globalisation
Among the many emergencies that the world economy faces post-Covid is debt distress. The problem has devolved into a crisis of epic proportions in poor economies. The (...)
The Sri Lankan peoples’ calls for change cannot be set aside with quick economic fixes.
Just a few weeks ago, it looked like the regime of President Gotabaya Rajapaksa was on the ropes. On 9 May, the supporters of his brother and the then Prime Minister Mahinda Rajapaksa, attacked protestors, (...)
The National Labour Advisory Council (NLAC), which includes Trade Unions, urged the Government to reveal details of negotiations and agreements with the IMF in the public domain, before they are officially agreed on and signed and present a short-term budget in Parliament within two weeks for (...)
Around 20% of estate families not connected to national power grid: Selvaraja Says looking after workers essential to keep tea industry sustainable LP gas shortage and price hike push many households to use kerosene No shortage, kerosene being misused for buses and trucks: Minister (...)
Petrol stocks only sufficient for a few days Diesel stocks on order, continuous supply promised Stop panic buying, Energy Ministry urges Industry and agriculture sector significantly affected Self-employed face severe hardships
A telephone call at 3.40 a.m. had rudely awoken 29-year-old (...)
Sri Lanka’s shortage of essentials like fuel, cooking gas, medicines and food has opened up a new business venture of queuing up for others at a fee.
Sri Lanka’s fuel queues started in mid-February and are currently so long that people spend days waiting to fill their tanks; that, too, on a (...)
The fuel crisis impact on three-wheeler and cab drivers’ livelihoods
To most Sri Lankans, hailing a taxi to commute to work has become an arduous and frustrating task, and exorbitant taxi fares have compelled them to think twice about taking a taxi even if they could find one. With the lack of (...)
Island-wide hartal calling on government to leave on 6 May
The Trade Union Coordination Centre (TUCC) has called for a collective of workers unions to take trade union action on Thursday (28) in the lead-up to an island-wide hartal campaign on 6 May, The Sunday Morning learns.
According to (...)
Sri Lanka is quickly becoming a poster child for the sovereign debt crisis, much like countries before it such as Lebanon, Greece, and Argentina. While the consequences may appear similar, it is critical to understand the specific characteristics of the unfolding crisis in Sri Lanka. For many, (...)
Twelve unions across Sri Lanka have launched a joint campaign to demand a rise of 10,000 rupees (US $49) in the monthly minimum wage of private sector employees, and to oppose the government’s decision to exclude private sector employees from a scheme that grants a monthly allowance of 5,000 (...)
Weerasumana warns of fresh youth unrest
Former Minister DEW Gunasekera has alleged that the four major millers representing the interests of the ruling Sri Lanka Podujana Peramuna (SLPP) decides the price of rice, according to the Communist Party organ, Aththa (13 Feb).
DEW Gunalasekera last (...)
Laws and regulations governing strikes are not adequate to address the island’s complex realities
Sri Lanka is going through unprecedented trying times. While the Covid-19 pandemic is often blamed for most of the economic and social issues, some issues are the result of the authorities failing (...)
A significant rise in the number of COVID-19 cases has left factories compelled to delay the timeline in meeting orders.
There are huge absentees of about 15-20 per cent in each and every factory as a result of COVID-19, Free Trade Zone Manufacturers Association Secretary Dhammika Fernando (...)
Amid shortages, families are forced to ration tea, meals
As Sri Lanka’s economic crisis makes global headlines, estate worker B. Sundararajan is watching it manifest in his teacup.
In recent weeks, he has cut his usual, two cups of tea a day to one. “Milk powder is not easily available. When (...)
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