Economy

Originally From: https://www.dailymirror.lk/opinion/Self-Sufficiency-in-the-New-Year/231-299503 The flawed IMF program with its focus on the market has further aggravated the economic situation with a food crisis Sri Lanka over the last three years has been hit by tremendous price hikes and shortages of essential services and goods. What does the New Year hold for the working people, pummelled by the rising cost of living and stagnant incomes, whose lives have become unbearable?  Even as the public awaits the national budget next month, to address the ongoing economic crisis, the Government should announce a firm New Year resolution to address people’s suffering. I argue…

Originally From: https://www.ft.lk/opinion/Economic-crisis-and-household-debt-in-the-north/14-770935 The current economic crisis cannot be resolved by households or social institutions alone, and loans are not the solution. The Government should introduce livelihood and income stabilisation programs to help people escape the debt trap. It should also leverage cooperatives to create markets and supply chains for rural production, while expanding affordable credit for rural livelihoods and small-scale industrial growth. Additionally, a universal social security program should be implemented The ongoing crisis in Sri Lanka has greatly affected household debt. As the economy worsened due to inflation, higher living costs and job losses, more households are relying…