Tharindu U D A Y A N G A Kamburawala

An inclusive green economy is an alternative to today’s dominant economic model. Over the past decade, the concept of green economy has emerged as a strategic priority for many governments. However, 62% of world countries have not yet attained a considerable green economic performance. Because of this inadequate green economic performance, most of countries are still unable to reach green economic targets and to implement effective and efficient polices that direct to environmental and economical sustainability. Theoretically, the balanced growth of economic, environmental and social sectors is required to attain a considerable green economic performance. This study attempts to examine the overall influence of environmental performance and the per capita gross domestic product on green economy. Research was based on the cross-sectional data for the year 2018, covering 128 countries. Data were extracted from the World Bank, Centre for Environmental Law and Policy and Dual Citizen LLC...

The issue of global debt distress is a matter of great concern, not just for the affected developing countries but also for developed countries and international organisations. According to the United Nations Development Program (2022), 54 developing economies are currently grappling with severe debt problems. During the period of 2020 to 2022 Ghana, Zambia, and Sri Lanka, representing the African and Asian regions, have found themselves in dire financial straits. This study aims to discover the common and specific reasons that led to the mounting debt crises in these three countries. The study describes the tax revenue challenges and governance issues, middle income trap and China's role in debt restructuring discussions as common challenges apart from country specific challenges. Timely discussions with the International Monetary Fund (IMF) and expedited agreements with creditors, and updated debt restructuring mechanisms are drawn to attention in this study.

The economic downturn and escalating debt levels prompted Sri Lanka to seek assistance from the International Monetary Fund (IMF), resulting in the formulation of the 17th IMF program. This program, aimed at fiscal consolidation and restructuring, designates SOEs as a pivotal element in the nation's economic recovery strategy. This policy brief addresses the imperative need for reforming State-Owned Enterprises (SOEs) in Sri Lanka. A historical overview reveals the evolution of Sri Lanka's SOEs, from their establishment during World War II to a surge in numbers in the 1980s. Despite their vital role in the economy, SOEs have faced operational inefficiencies, financial struggles, and governance issues, leading to a privatization policy in 1988. The document explores international experiences in SOE reform, drawing insights from successful models in Singapore, China, and India. Current policy measures in Sri Lanka encompass various reform strategies, such as corporatization, restructuring, and commercialization, focusing on enhancing financial transparency and accountability. The establishment of the State-Owned Enterprise Restructuring Unit (SRU) reflects a commitment to effective implementation, with international support from entities like the International Finance Corporation (IFC). In conclusion, the path to economic recovery in Sri Lanka hinges on the successful transformation of SOEs, ensuring financial viability, transparency, and sustainable growth.

Belt and Road Initiative (BRI) project is one of the most dominant trade policies initiated by the Chinese government. It connects one hundred and forty-six countries occupying more than fifty per cent of the world's gross domestic product. Thus, BRI has become an indispensable perspective of forecasting trade performance between regions in the coming years. This study employs an evidence-based approach and critically evaluates the existing arguments on the BRI project and the possible strategies to mitigate the negative impacts of the project with special reference to Sri Lanka. Further, it attempts to summarize some key facts related BRI's engagement in the regions such as the SouthEast Asia, Europe, Indo-Pacific, and the South Asia. The findings of the study discover the heavy domestic focus of the BRI objectives. Existing financial incompetence, lack of physical capital, and technology gap are the main motives for developing economies to engage with the project. Geopolitical repercussions, security problems, and the debt trap are the highlighted adverse impacts of BRI. Several developing countries like Nepal have adequately accomplished the BRI projects domestically. Sri Lanka has benefited from BRI in several aspects and experienced several difficulties in power rivalry, autonomy and independence, growing debt burden, transparency and corruption. The study concludes the higher potential of BRI to approach developing countries' growth-related shortages and the possibility of emerging geopolitical repercussions. Thus, it recommends implementing a practical government framework to manage BRI domestically. This study recommends governments to enhance transparency and accountability related to the project's affairs, while maintaining economic feasibility and environmental sustainability. Furthermore, practicing a rational process for project selection and implementing efficient evaluation are recommended.

Small and Medium-sized Enterprises (SMEs) that engage in industrial processing and manufacturing are the most critical for the early stages of industrialization. SME sector is the backbone of the economy in high income countries. According to the World Trade Organization (WTO), SMEs represent over 90 percent of the business population, 60–70% of employment and 55% of gross domestic product (GDP) in developed countries. World Bank considers SMEs as the largest job creators for world economies. Because of this importance, world development agendas have highlighted the necessity of enhancing enterprises and manufacturing. For example, Sustainable Development Goals (SDGs) of the United Nation’s Development Programme (UNDP) is “Industries, Innovation and Infrastructures1”. Specially, target 9.3 of SDGs is aimed to increase the access of small scale industrial and other enterprises in developing countries. Moreover, target the 9.2 is aimed to promote inclusive and sustainable industrialization and by 2030, significantly raise industry’s share of employment and GDP in line with national circumstances. The World Bank also has given the due attention on entrepreneurship and innovation. Several indexes have been developed to measure the influence of ease of doing business and the impact of entrepreneurial ecosystems when determining the contribution of SMEs to the economic empowerment. Ease of doing business and entrepreneurship ecosystem have become crucial engines of economic growth as well.

Several studies have identified the substantial influence of crises on the changes in food consumption behavior in various economies. This research examines the impact of the COVID-19 pandemic on food consumption patterns of the urban areas in the Western Province of Sri Lanka. Further, the research investigates the difference in food consumption expenditure over two periods: before COVID-19 and during restrictions. The study was based on primary data collected from structured questionnaires. Simple Random Sampling method was adopted to select 52 households representing the urban areas of Western Province. Primary data were analyzed utilizing the Paired t-Test and Descriptive Statistical Methodologies. Even though there is no statistically significant difference in the food consumption expenditure over two periods, the research found substantial changes in the food consumption behavior and patterns especially during the restriction i.e. quarantine curfew/lockdown. Astonishingly, the...