Aneetha Warusavitarana on pension reform

Advocata Research Analyst, Aneetha Warusavitarana joined Biz 1st In Focus to discuss the window of opportunity for pension reform, given that new labour reforms are in dicussion.

We all know that the government sector pension is non-contributory – the entire burden of payment is shouldered by the government – and given our fiscal position, this is an area where reform should be seriously considered.

However, with new labour reforms in discussion, there is now a window of opportunity for the government to bring in a much needed contributory pension scheme!

Aneetha Warusavitarana on the fiscal implications of state sector pensions

Advocata Research Analyst, Aneetha Warusavitarana joined Biz 1st In Focus to discuss the fiscal implications of providing pensions for state sector employees. Unlike private sector EPF/ETF payments, government sector employees do not contribute a single rupee towards their pensions. In 2018 itself, the Finance Ministry spent Rs. 194 billion on pension payments. She explores the question of rewarding inefficiency that plagues the government sector with a guaranteed (tax-money funded) pension.

Anuki Premachandra on sanitary napkin taxes and its effect on cost of living in Sri Lanka

Advocata Research Communications Manager, Anuki Premachandra joined Biz 1st In Focus to shed light on the exorbitant taxes on sanitary napkins and its effects on the cost of living, education and health.

Foreign investors bail out from local stocks and bonds as debt servicing goes up

Originally appeared on News First

The COO of the Advocata Institute, Dhananath Fernando states that the foreign debt servicing schedule in Sri Lanka is mounting up for the next four years.

He explained that in 2019 Sri Lanka has to pay USD 4.2 billion, in 2020 USD 3.6 billion, in 2021 USD 3.3 billion and in 2022 USD  3.7 billion. So overall Sri Lanka will have to pay USD 15 billion over the next 4 years.

Even though the Sri Lankan rupee ended firmer yesterday (Dec 07) due to inward dollar remittances, foreign investors continued to bail out from local stocks and bonds.

Foreign investors sold a net Rs. 17 billion rupees worth of government securities in the week which ended on the 5th November, the highest weekly net outflows since the third week of February 2017. The stock market had net foreign outflows of Rs. 929.1 million this week.

While there are massive amounts to be paid as debt repayments, foreign investors continue to exit from stocks and bonds as well.

Dhananath Fernando on Sri Lanka's economic standing due to #CoupLK

Advocata Chief Operating Officer, Dhananath Fernando joined Biz 1st Review 360 to discuss how the ongoing political crisis will further worsen the economic situation in Sri Lanka.

Dhananath Fernando on #CoupLK and the economy

Advocata Chief Operating Officer, Dhananath Fernando joined Biz1st In Focus to discuss the effects of #CoupSL and the ongoing political and constitutional crisis, on Sri Lanka’s economy.