Country Profile
From The Report: Sri Lanka 2017
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Sri Lanka has emerged from its long internal conflict, but with the post-war euphoria behind it, a number of structural challenges remain that will determine the country’s trajectory as it pushes forward. The state’s involvement in large parts of the economy could present stumbling blocks to a number of liberalising economic reforms that Sri Lanka is likely to need if it is to increase its competitiveness in international markets. While there has been a wait-and-see approach within Sri Lanka’s private sector, the long-term impact is expected to be positive. The reinstatement of GSP+ benefits should also see state-owned enterprises release more power to the private sector to reap all potential benefits, expand revenue streams and repay creditors more quickly.

This chapter contains interviews with President Maithripala Sirisena; and Prime Minister Ranil Wickremesinghe.

Articles from this Chapter

Overview

The finest island: With peace comes potential and progress
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Sri Lanka has long served as an important strategic destination in the Indian Ocean, catering to merchants and travellers from South-east Asia, India, the Middle East and East Africa. Formerly known as Ceylon, the island was visited and admired by the likes of Marco Polo, who called it “the finest island of its size in the world”, well before the arrival of imperialist nations. A diverse colonial history, including Portuguese, Dutch and British influence, is visible across Sri Lanka today,…

Interview

New dynamics: President Maithripala Sirisena on boosting regional cooperation and expanding Sri Lanka’s market
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Interview: President Maithripala Sirisena How can Sri Lanka work more closely with the South Asian Association for Regional Cooperation (SAARC) in coordinating regional security? PRESIDENT MAITHRIPALA SIRISENA: SAARC’s objectives should go beyond regional politics and find ways to create close links among the eight nations. Culture is a great unifier in our region. SAARC plays a pivotal role in fostering harmony and understanding among members, and building a strong base for regional understanding. The…

Viewpoint

Open to opportunity: Prime Minister Ranil Wickremesinghe, on expanding access to credit and the evolution of the economy
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Viewpoint: Prime Minister Ranil Wickremesinghe Sri Lanka has developed a variety of distinct economic sectors, which are capable of further integrating the country’s economy into the global value chain. The digital economy, tourism and commercial agriculture are coming of age in terms of their potential to offer high-value skills and remuneration to young jobseekers in the country. The new economic orientation will include fewer opportunities with the government, and more exposure and opportunities…

Overview

Future focus: The country looks to strengthen trade and international relations
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After centuries of foreign rule and years of internal conflict, Sri Lanka is now changing its focus to reforming the nation’s political and economic spheres to exert its renewed influence in the region and become an independent, global player. Now is the time to see if Sri Lanka has the will to implement challenging reforms and take its place on the international stage. History Sri Lanka’s first inhabitants were hunter-gatherers who likely crossed a land bridge from India and formed…