Sri Lanka’s spectacular political downfall over the recent days and ongoing downward economic spiral offers yet another unmistakable reminder: Good governance, both political and economic, matters.
Sri Lanka’s problems are, in many aspects, unique to its situation and self-inflicted. Yet the astonishing collapse of the country is also inextricably linked to a wider, interlocking series of
Meeting Sri Lanka’s rapidly increasing water and sanitation needs will require a comprehensive national policy capable of managing institutional coordination, improve planning, and attract investment to benefit millions of people. Sri Lanka is on track to meet its Sustainable Development Goal (SDG) of providing basic access to clean drinking water and sanitation but Sri Lanka will have to
Mahinda Rajapaksa, who served as Sri Lanka’s president from 2005 until 2015 and is a brother of the recently deposed leader, tried to use infrastructure projects to heal the country’s economy
Sri Lanka has the highest external debt payments this year, amounting to 75% of government revenue, followed by 65.6% for Laos, 57.8% for Dominica and 46.7% for Pakistan.
An estimated 17 percent of the population is in moderate acute food insecurity in Sri Lanka, especially in the Northern, Eastern and Central Provinces, indicating an improvement compared to 2022. COLOMBO: Food security in Sri Lanka is improving across all provinces, according to the Crop and Food Security Assessment Mission (CFSAM) report jointly carried out in February/March 2023 by the Food
Since gaining independence in 1948, Sri Lanka has made considerable progress in improving the day-to-day lives of its citizens and children. Despite the traumas of a civil conflict, a spate of natural disasters and a legacy of political, legal and institutional change, Sri Lanka has done well to advance the situation of children across the country.
As Sri Lanka’s economy struggled and global prices rose, its foreign exchange reserves shrank by about 70 percent. Shaving foreign-made fertilizer from the country’s shopping list would help
While 80% of Sri Lanka’s poor still live in rural areas, the poverty rate in urban areas has tripled since 2021, and half the population in estate areas is currently living below the poverty
Non-communicable diseases, account for nearly 90 percent of the disease burden in Sri Lanka. The financial burden of NCD control and care is significant and not equally distributed, affecting rich and poor households differently. NCD management involves early screening and long-term follow-up within the health system, together with supportive lifestyle and dietary changes.
One of the major players in Sri Lanka’s calamity is China. Beijing is Sri Lanka’s lone biggest creditor, accounting for some 10 percent of the country’s foreign debt.
2 March 2023 – Half of families in Sri Lanka are forced to reduce the amount they feed their children, according to a survey by Save the Children, as the country’s economic downturn spirals
Colombo, Sri Lanka – “We have seen people fight for food at our meal drives, it is very difficult to watch”, the co-founder of a charity organisation which provides regular meals to the poor
Washington. 1818 H Street NW Washington, DC 20433. +1 202-473-8955. infosrilanka@worldbank.org. Latest news and information from the World Bank and its development work in Sri Lanka. Access the latest news, statistics, project information, and development research from experts.
Finally, in 2017, Sri Lanka agreed to give state-owned China Merchants a controlling 70% stake in the port on a 99-year lease in return for further Chinese investment. Image source, Getty Images
According to the World Bank, Sri Lanka owes $15 billion in bonds, mostly dollar-denominated, out of a total of $45 to 50 billion in long-term debt. The country needs $7 to 8.6 billion to service its debt load in 2022, whereas it had just $1.6 billion in reserves at the end of March 2022. The downgrading of Sri Lanka by rating agencies such as
Of the $4.5 billion in debt service Sri Lanka would pay in 2017, only 5 percent was because of Hambantota. The Central Bank governors under both Rajapaksa and Sirisena do not agree on much, but
Sri Lanka has descended into its worst financial crisis since independence, with food, fuel, medicine and electricity becoming increasingly scarce, and calls for the president, Gotabaya Rajapaksa
The Sri Lanka Development Update (SLDU) has two main aims. which ultimately plunged the country into an economic crisis. Poor governance, a restrictive trade regime, a weak investment climate
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