Sri Lanka's Migrant Workers: The Unacknowledged Pillars of the Economy

The economic crisis that has gripped Sri Lanka has brought to light the invaluable contribution of its migrant workers and expats living overseas. When the government struggled to provide essential necessities during these challenging times, it was the remittances from these individuals that acted as a crucial safety net, preventing the island from facing an even more dire fate.

According to data from the International Labour Organisation (ILO), remittances contribute around 8% to Sri Lanka's GDP, averaging $7 billion per year. This financial lifeline has become increasingly vital, especially in recent years. The Central Bank reports a substantial increase of 74.4% in remittances as of August this year compared to the same period last year, reaching $3,862.7 million.

Reforming Local Governance: A Call for Accountability and Efficiency

In recent months, the Opposition's clamor for Provincial Council (PC) and Local Government (LG) Elections has gained momentum, with a focus on their essential role in addressing pressing issues. The revelations from the National Audit Office (NAO) Report on the service rendered by the nine Provincial Councils shed light on the urgency for reform.

According to the report, a staggering Rs. 298 billion was allocated to employee salaries, overshadowing the mere Rs. 16 billion spent on actual services in 2022. This skewed expenditure pattern, where 96 percent is channelled into salaries and recurrent expenses, underscores the need for a critical review of how public funds are utilized.

A Comprehensive Analysis of Sri Lanka's MSMEs and Policy Recommendations

Introduction

The economic landscape of Sri Lanka has undergone significant challenges over the past few years, primarily driven by the Covid-19 pandemic and subsequent economic crises in 2022. The impact on micro-, small-, and medium-sized enterprises (MSMEs) has been profound, affecting their business operations, employment rates, and overall sustainability. A recent report by the International Labour Organisation (ILO) sheds light on the nature of these impacts and suggests policy interventions to revive and strengthen the MSME sector.

Impact of Crises on MSMEs

The ILO report highlights that nearly 80% of surviving MSMEs in Sri Lanka were severely impacted by the Covid-19 pandemic, and 89% faced challenges during the economic crisis of 2022. This resulted in a contraction of employment by one-fifth, leading to downsizing among small- and medium-sized enterprises. The migration of skilled and unskilled workers, coupled with the inability of many enterprises to pay competitive wages, further exacerbated the employment situation.

Strengthening Sri Lanka's Food Systems: A Comprehensive Approach to Climate and Disaster Risk Management

Climate change-related risks have emerged as a significant challenge in the 21st century, impacting food systems globally. In the context of Sri Lanka, a recent report by the think tank SLYCAN Trust titled "Strengthening Sri Lanka's ecosystem for climate and disaster risk management and finance" sheds light on the challenges faced by the country's food systems. This article delves into the key findings of the report, emphasizing the need for swift and scientific actions to address climate-related impacts and enhance the resilience of farmers and communities.

Challenges Faced by Sri Lanka's Food Systems

The report identifies a myriad of challenges faced by Sri Lanka's food systems, including direct climate and disaster-related risks such as increasing temperatures, water scarcity, and extreme weather events. Additionally, compounding risks like market volatility, supply chain disruptions, and human-wildlife conflict further exacerbate the vulnerabilities of the food systems. The challenges highlighted in the report encompass a wide range of issues, from weather dependency and low mechanization to gender-related disparities and the lack of interest among the youth in farming.

Exploring Lucrative Opportunities: Investing in Fast-Growing Business Sectors in Sri Lanka (2023)

Are you on the lookout for promising investment opportunities in Sri Lanka? This comprehensive guide will walk you through the fast-growing business sectors in the country, providing valuable insights for investors, entrepreneurs, and job seekers alike. From renewable energy to sustainable manufacturing, each sector holds unique potential and opportunities for growth. Let's delve into the details and explore why these sectors are prime for investment.

Renewable Energy

Sri Lanka's commitment to sustainable development has paved the way for the flourishing renewable energy sector. Solar power, wind energy, and hydroelectric projects are on the rise, driven by government incentives. Investing in this sector not only aligns with environmental goals but also offers retail opportunities. With a supportive regulatory environment, the renewable energy sector in Sri Lanka presents a lucrative option for investors.

FAO Report Highlights Inequalities Constraining Female Participation in Agri-Food Systems

In a recent report titled "The status of women in agri-food systems," issued by the Food and Agriculture Organization of the United Nations (FAO), findings reveal that various sources of inequality are constraining female participation, well-being, and empowerment in agri-food systems.

Agri-food systems, which are major employers globally, play a crucial role in the livelihoods of females, often more so than for males in many countries. Despite this, the report points out that females in these systems often face marginalized roles and worse working conditions than their male counterparts, experiencing irregular, informal, part-time, low-skilled, and labor-intensive work, rendering them vulnerable.

The report underscores that multiple sources of inequality contribute to this situation, limiting female access to resources such as land, inputs, services, finance, and digital technology. Additionally, discriminatory social norms and rules impact females' coping mechanisms and resilience, making them more susceptible to the negative impacts of shocks and crises in agri-food systems.

The Era of Polycrisis: Navigating the Complex Intersection of Global Challenges

The world is currently facing a unique and unprecedented crisis, one that defies easy categorization and challenges our ability to address global issues comprehensively. The term "polycrisis" has emerged to describe the convergence of multiple global challenges, such as the climate crisis, the lingering effects of the COVID-19 pandemic, and the geopolitical ramifications of the Russian invasion of Ukraine in early 2022. These crises have come together, creating a "perfect storm" that poses significant threats to the Sustainable Development Goals (SDGs) and the well-being of people worldwide.