Econhttps://archive.veriteresearch.org/handle/123456789/3022024-03-28T09:39:10Z2024-03-28T09:39:10ZThe Desirability of Domestic Debt RestructuringPeiris, Udarahttps://archive.veriteresearch.org/handle/456/65642024-03-27T21:32:05Z2022-10-01T00:00:00ZThe Desirability of Domestic Debt Restructuring
Peiris, Udara
Sri Lanka faces a challenge to emerge from the continuing economic crisis of unsustainable public debt. This paper sets out four important reasons to undertake an early domestic debt restructuring (DDR), by way of reprofiling the capital repayments. This will allow Sri Lanka to restore debt sustainability and economic stability more quickly, resiliently, and fairly, under the present dynamics. First, DDR provides a faster pathway toward solvency for the Government of Sri Lanka. Second, it provides the foundations for the stability of the economy (macro stability). Third, it reduces the likelihood of needing subsequent sovereign debt restructuring, and fourth, it facilitates a more equitable sharing of the costs to overcome the economic crisis.
14p. The Background Notes of Verité Research Sri Lanka Economic Policy Group provide preliminary assessments, stating appropriate assumptions to overcome constraints in the availability of data. Members of the Verité Research Sri Lanka Economic Policy Group are Prof. Dileni Gunewardena, Prof. Mick Moore, Dr. Nishan de Mel, and Prof. Shanta Devarajan.
2022-10-01T00:00:00ZTargeting Assistance: Electricity Consumption is a Superior MethodSiyambalapitiya, SuminiGunewardena, Dilenihttps://archive.veriteresearch.org/handle/456/65612024-03-18T21:32:22Z2022-07-01T00:00:00ZTargeting Assistance: Electricity Consumption is a Superior Method
Siyambalapitiya, Sumini; Gunewardena, Dileni
This note recommends household electricity use as a determinant of eligibility for welfare benefits. As Sri Lanka’s crisis continues, up to 50% or more of the population is likely to need state support, however current targeting through Samurdhi reaches just about a quarter of all households and only 40% of the poorest individuals. Household electricity usage is a good proxy for poverty and a quick, efficient, and effective targeting mechanism. A threshold of 60kwh per month is proposed as a preliminary eligibility criteria which will reach approximately 50% of the population and over 80% of the poorest among them.
8p. The Background Notes of Verité Research Sri Lanka Economic Policy Group provide preliminary assessments,
stating appropriate assumptions to overcome constraints in the availability of data.
2022-07-01T00:00:00ZRestoring Efficient Tax Collection Methods: Withholding Tax and Pay-As-You-EarnGunewardena, Dilenide Mel, NishanMoore, MickDevarajan, ShantaRajkulendran, Raj PrabuSiyambalapitiya, Suminihttps://archive.veriteresearch.org/handle/456/65602024-03-18T21:32:55Z2022-06-01T00:00:00ZRestoring Efficient Tax Collection Methods: Withholding Tax and Pay-As-You-Earn
Gunewardena, Dileni; de Mel, Nishan; Moore, Mick; Devarajan, Shanta; Rajkulendran, Raj Prabu; Siyambalapitiya, Sumini
The note estimates the additional revenue that can be collected from reinstating in Sri Lanka two methods of efficient tax collection that were discontinued in 2020. That is: the withholding tax (WHT) and the pay-as-you-earn (PAYE) methods of tax collection. Without any change in the current, reduced, tax rates, and a WHT of 10% the additional revenue that can be collected is estimated to be 0.70% of GDP (which is LKR 184.2 billion in 2023).
8p. The Background Notes of Verité Research Sri Lanka Economic Policy Group provide preliminary assessments, stating appropriate assumptions to overcome constraints in the availability of data.
2022-06-01T00:00:00ZCivil Society Governance Diagnostic Report on Sri Lanka: An Assessment of the Anti-Corruption Landscape of Sri LankaParakrama, Arjunahttps://archive.veriteresearch.org/handle/456/64942024-02-27T21:34:58Z2023-01-01T00:00:00ZCivil Society Governance Diagnostic Report on Sri Lanka: An Assessment of the Anti-Corruption Landscape of Sri Lanka
Parakrama, Arjuna
This Civil Society Governance Diagnostic Report on the Anti-Corruption Landscape of Sri Lanka (Report), prepared on the basis of extensive local consultation over a two-month period with a range of community and sectoral representatives as well as experts in the key subject areas, focuses on the main governance determiners that have influenced the corruption context in Sri Lanka. It identifies crucial factors that need to be harnessed to facilitate and sustain anti-corruption measures necessary to ensure that Sri Lanka recovers successfully from its current financial crisis making the best use of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF). Based on this input and a study of best practice in similar situations, including the IMF’s own governance diagnostic recommendations recently made in comparable circumstances, the Report assesses progress made, identifies key weaknesses, and provides a list of measures deemed necessary to steer immediate and future reforms. The information used in preparing this report were of five types: they are; (a) national studies/ reports/summaries on core focus areas of the corruption landscape identified in the core group, the Key Informant Interviews (KIIs) and through a snowball approach which led to other studies cited in the initial ones examined ;(b) relevant regional/comparative studies and analyses of similar issues and concerns; (c) the range of related legislation and documents concerned with them; (d) journalistic and more public-oriented pieces on the governance-corruption nexus; and (e) relevant IMF conceptual documents and country reports.
62p. This report was reviewed and written under the oversight of the Civil Society Initiative on Anti-Corruption Reform for Economic Recovery comprised of PAFFREL, TISL, CPA, Verite Research, Sarvodaya and the National Peace Council of Sri Lanka. This report is also available on the TISL website.
2023-01-01T00:00:00Z