As the 2024 Presidential election approaches, ‘At HydePark with Indeewari Amuwatte' featured Dr. Ahilan Kadirgamar, Senior Lecturer from the University of Jaffna and a renowned expert on Sri Lanka's political economy, to explore the critical economic policies Sri Lanka must adopt to navigate the country’s worst economic crisis since independence. Dr. Kadirgamar discusses the root causes of the crisis, examining both domestic policy failures and the broader global economic conditions that have contributed to the current situation. He critiques the economic strategies of successive Sri Lankan governments and highlights the potential pitfalls of continuing down the same path without significant reforms. The conversation also touches on the controversial agreements with the IMF, questioning whether the conditions imposed are in the best interest of the Sri Lankan people. Dr. Kadirgamar advocates for a renegotiation of these agreements to ensure that the focus is on self-sufficiency and reducing social suffering, rather than austerity measures that could further cripple the economy. Looking to the future, Dr. Kadirgamar emphasizes the importance of prioritising health, education, and food security in the recovery process. He argued for a comprehensive restructuring of Sri Lanka's debt, warning against the risks of repeated defaults and stressing the need for policies that ensure long-term stability and growth.

The Secretary General of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), Indra Mani Pandey says the seven member states of the association are collectively working towards realizing their Sustainable Development Goals. Joining this week's episode of ‘At HydePark with Indeewari Amuwatte' the Secretary General of BIMSTEC, discussed the importance of regional integration among member states and the initiatives taken by each state to support other member nations in achieving individual development goals. Discussing latest developments in the organization the Secretary General Pandey said, a special report prepared by an eminent persons’ group is scheduled to be published in the next BIMSTEC summit, in order to identify the weaknesses and opportunities presented by the BIMSTEC for its member states. He also said a Technology Transfer Facility is expected to be set up in Colombo, enabling the member nations to have access to technologies developed by other BIMSTEC member states.

Joining this week's episode of ‘At HydePark with Indeewari Amuwatte' the World Bank's Chief Economist for South Asia, Franziska Ohnsorge discussed key indicators outlined in the recent release of the Sri Lanka Development Update, titled "Bridge to Recovery”. She highlighted several positive developments, such as easing inflation, increased revenues due to new fiscal policies and a current account surplus for the first time in nearly fifty years. These gains have been supported by rising remittances and a resurgence in tourism. Also talking about the South Asia Development Update, Ohnsorge said that South Asia is poised to maintain its status as the world's fastest-growing region, largely propelled by India's robust economic expansion. However, this optimistic outlook masks underlying challenges. Many countries in the region still lag behind pre-pandemic growth levels, relying heavily on government spending. She added that in order to ensure more resilient and enduring growth, nations must implement policies that foster private investment and enhance employment opportunities. Ada Derana | ශ්‍රී ලංකාවේ විශ්වසනීය හා ප්‍රමුඛතම පුවත් සපයන්නා