Sri Lanka Archives - Page 2 of 2

Sri Lanka’s Opportunity to Open Up its Economy is Now

The recent election of President Maithripala Sirisena heralds a golden opportunity for Sri Lanka to heal old wounds and to open up its economy — and for the West, India and even East Asian countries to re-engage.

In November 2014 the former president, Mahinda Rajapaksa, called an early election in the hope it would be a cakewalk. Instead he was defeated by an effective opposition challenge that tapped into a groundswell of popular resentment with one-family rule. Only two months ago, the Rajapaksas seemed invincible. On 8 January, their edifice collapsed.

Is Maithripala Sirisena’s Win Good News for Sri Lanka?

Two months before the Sri Lankan presidential elections, few thought that President Mahinda Rajapaksa would lose. There was no formidable opponent from the opposition to challenge him, and, since his re-election after the war victory in 2009 for a second term in 2010, his party had won all the Provincial Council elections held on a staggered basis.

What are Sri Lanka President Rajapaksa’s Election Chances?

Two years before an election was due, President Percy Mahinda Rajapaksa of Sri Lanka has called an early poll for 8 January, seeking an unprecedented third term in office made possible by his revision of the constitution.

Sri Lanka’s Snap Election and Economic Reform

Sri Lanka’s president, Mahinda Rajapaksa, has called a snap mid-term election on 8 January 2015, two years ahead of schedule, in a bid to win a third term in office. What was largely expected to be a one-horse race has quickly become a close run proposition, with the surprise entry of Maithripala Sirisena —the General Secretary of the president’s own Sri Lanka Freedom Party (SLFP), no less — as the common opposition candidate.

Sri Lanka Becoming China’s New Best Friend?

A sea change is occurring in Sri Lanka’s strategic orientation. Recent developments suggest that Sri Lanka is becoming China’s new best friend and security partner in the eastern Indian Ocean. This would represent a major change in Sri Lanka’s foreign policy and could have significant consequences for regional security.

Sri Lanka At Centre Of China-India Spat

The government of India is reportedly upset with their Sri Lankan counterparts for approving the sale of a prime plot of land in Colombo – that was originally promised to the Indian High Commission – to a Chinese state-owned aviation company, said the Times of India on Monday, with the sale by Sri Lanka believed to have taken many Indian officials by surprise.

Sri Lanka – Fast Facts

Sri Lanka is a lower income economies comes under the South Asian region, as to the classification made by the World Bank on the basis of income and region for the year 2006.

The country’s economy was socialist oriented in the past, but in the present scenario the country has stepped forward for private participation and competitive environment. Agriculture, industry and services have their respective importance in contributing the Gross Domestic Product.

Sri Lanka Economic Forecast

While Sri Lanka once followed a statist economy and import substitution trade policy the country today follows policies market-oriented policies. In addition, Sri Lanka has a stronger trade market, while encouraging more Foreign Direct Investment. While this country was experiencing growth since the changes took place in 1977, when government changes occurred in the past few years the economy suffered to some degree. The government’s goal now is to lower poverty by pushing investments out to areas that are at disadvantage while developing small to medium-sized enterprises.