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...

Retirement Funds Face Regressive Taxation in Sri Lanka

by |12 October 202312 October 2023

In September 2023, Sri Lanka became the only country to restructure local currency debt by exclusively targeting retirement savings funds, excluding all others. This was justified by claiming that retirement savings were receiving preferential tax treatment. This insight finds both...

Foregoing Competition to Secure Funding for Public Infrastructure

by |30 June 202317 August 2023

In 2010, Sri Lanka established a unique framework, overseen by the Standing Cabinet Appointed Review Committee (SCARC), to handle unsolicited proposals (USPs) for public infrastructure funding. These USPs inherently bypass traditional competitive bidding in procurement. The report, 'Foregoing Competition to...

Does Sri Lanka Need More Rules or Better Compliance?

by |06 March 202312 October 2023

The government of Sri Lanka proposed introducing a new law to establish stronger rules on public finance management. The analysis shows that the core weakness in Sri Lanka is not the lack of rules but the lack of compliance. To...

The Alternatives to Universal Tax Registration in Sri Lanka

by |02 March 202302 March 2023

This note argues that the Sri Lankan government’s recent proposal to implement universal tax registration is neither a viable nor effective strategy to increase the country’s tax revenue. Instead, the note proposes four alternative measures that are more feasible, while...

State of The Budget Report 2022: Assessment on whether the expenditure allocations and taxation policies are in line with the government’s policy

by |25 November 202225 November 2022

This is the second report in a series of two reports on Sri Lanka’s central government budget for the year 2022. The report assesses whether the expenditure allocations and taxation policies are in line with the government’s policy. (more…)

ස්ත්‍රී පුරුෂ සමාජභාවයට අනුකූල වූ අයවැයකරණය: ප්‍රධාන කාර්ය සාධන දර්ශක පිළිබඳ ඇගැයීම ජූලි 2022

by |02 November 202228 November 2022

ශ්‍රී ලංකාව තුළ ස්ත්‍රී පුරුෂ සමාජභාවයට අනුකූල වූ අයවැයකරණය ක්‍රියාත්මක කිරීම සම්බන්ධයෙන් ශ්‍රී ලංකා රජය අත්කර ගෙන ඇති අසාර්ථකත්වය මෙම වාර්තාව මගින් ඉස්මතු කෙරේ. රාජ්‍ය ප්‍රතිපත්ති සැලසුම් කිරීම දුර්වල වීම හේතුවෙන් සැලසුම් ක්‍රියාත්මක කරන ආයතන අතර වගවීම දුර්වල වන ආකාරය දක්වන...

The Desirability of Domestic Debt Restructuring: Verité Research Sri Lanka Economic Policy Group

by |24 October 202225 October 2022|Press Release

The third research note published by the Verité Research Sri Lanka Economic Policy Group presents an analysis by Professor Udara Peiris, Oberlin College, USA, explaining four ways in which Sri Lanka would benefit if the government were to restructure its...

The Desirability of Domestic Debt Restructuring

by |24 October 202231 October 2022

Sri Lanka faces a challenge to emerge from the continuing crisis. This background note argues that domestic debt restructuring (DDR) provides four benefits critical for the economy and country to emerge from the present crisis stronger and more resilient than...

Apparel Exports from Sri Lanka to the EU: A product level analysis of the impact of GSP+

by |25 September 202213 January 2023

Concerns about Sri Lanka losing GSP+ concessions resurfaced with the EU parliament passing a resolution on June 10th, 2021, calling the EU Commission and the European External Action Service (EEAS) to use GSP+ as leverage to push for the repeal...

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