13% primary expenditure rule proposed for Sri Lanka departs from economic theory and practice

by |24 July 202424 July 2024

The 13% primary expenditure rule proposed in a new public finance bill is at odds with established economic theory. It will undermine “good” public spending that enhances growth, eﬀiciency, and social welfare. It will also make Sri Lanka a global...

Looking Beyond the Economic Transformation Bill

by |23 July 202423 July 2024

This note proposes three steps Sri Lanka could take to construct and manage high quality Investment Zones, drawing from regional and global best practices. First, is enacting a separate, overarching legislation to govern Zones. Second, is enhancing the quality of...

Fading Beliefs: Addressing the Lacunae in the Right to Religious Worship in Sri Lanka

by |01 July 202401 July 2024

This report delves into the intricate landscape of Freedom of Religion or Belief (FoRB) in Sri Lanka, particularly focusing on the challenges surrounding the establishment and maintenance of places of worship. It sheds light on discriminatory practices, including registration requirements...

A Novel Governance – Linked Bond: As a Pareto Improving Instrument for Debt Restructuring

by |06 June 202417 June 2024

This working paper outlines the technical and incentive dynamics for a proposed new sovereign debt instrument designed for countries with high country risk premiums, where this risk is, ceteris paribus, correlated with the quality of present and future governance. We...

Trend Analysis of Violence Against Christians in Sri Lanka: November 2022 – October 2023

by |31 May 202431 May 2024

Ethno-religious violence against minority groups in Sri Lanka is a long-entrenched phenomenon that has persisted, irrespective of changes in the political landscape of the country. This study examines critical trends in religiously motivated violence against Christians between November 2022 and...

Blueprint for a Rational Government in Sri Lanka

by |03 May 202423 July 2024

A 'Blueprint for a Rational Government in Sri Lanka', created by Verité Research and Manthri.lk, seeks to implement the recommendations from the White Paper on "A Rational Method for Cabinet Formation in Sri Lanka", published in 2020. It lists down...

State of the Budget: 2024

by |28 March 202418 April 2024

The State of the Budget 2024 report compiled by Verité Research assesses the financial, economic and fiscal assumptions, the computation of estimates, and reporting standards applied in the 2024 Budget Speech. The state of the Budget is set out in...

Proposal for a Governance-Linked Bond in Restructuring Sri Lanka’s Debt

by |05 February 202418 April 2024

To address the governance risk to debt sustainability and provide incentives for the Government of Sri Lanka to implement governance reforms, this proposal sets out the structure of a novel sovereign debt instrument that can be used for countries with...

Backwards in Blacklisting: Gaps in Sri Lanka’s Procurement Framework Enable Corruption

by |08 January 202418 April 2024

The research brief titled "Backwards in Blacklisting: Gaps in Sri Lanka’s Procurement Framework Enable Corruption" by Verité Research, published in November 2023, critically evaluates Sri Lanka's public procurement system. It highlights two significant gaps: the legal gap, where procurement guidelines...

Personal Laws – An Analysis on Legal Gaps and Context

by |16 December 202318 April 2024

Sri Lanka has specific personal laws applicable to distinct ethnic and religious groups, such as Kandyan law, Muslim law and Tesawlamai law. Critics, both domestically and internationally, have raised concerns about discriminatory provisions in Sri Lanka's personal laws that contradict...

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