This is a hybrid event.
To watch live online, please register on this page.
To attend the event in-person at ODI's London Office, please register your interest by emailing [email protected] and await a confirmation email.
In April 2022, Sri Lanka announced a pre-emptive default on its foreign debt obligations following the impact of external shocks such as the Covid-19 crisis and the start of the Russia-Ukraine war. This middle-income country with enviable social indicators is now experiencing rising poverty, hunger and political instability. A new government was appointed and the country is pursuing a $2.9 billion IMF programme to address the challenges but is facing daunting debt restructuring with private creditors and China. Many other developing countries similarly seem at risk of the effects of multiple macroeconomic shocks and poverty in an uncertain global economy. How can the Sri Lanka make progress on an inclusive, sustainable and transformative recovery amidst a global slow down? What are lessons for other developing countries facing default, IMF support and economic reform programmes?
Chair: Dirk Willem te Velde, Director, International Economic Development Group, ODI
This hybrid workshop will seek to address three key issues:
- What is the current situation in Sri Lanka, what explains the economic crisis and what are its key characteristics
- What are future options for inclusive economic transformation in Sri Lanka in the framework of a new IMF programme and a slowing global economy
- Are (development finance) shock facilities effective to address multiple shocks? What more can they do?
- What other national and international policies should be considered to help developing countries mitigate the impact of multiple macro-economic shocks?
The workshop will aim to inform further analysis, questions and policy suggestions and builds on current research at the ODI.
Dr Dirk Willem te Velde@DWteVelde
Chair and moderator
Director of International Economic Development Group, ODI
Dr Ganeshan Wignaraja
Senior Research Associate, International Economic Development Group, ODI
Dr Indrajit Coomaraswamy
Former Governor of the Central Bank of Sri Lanka
Director, Hirdaramani Group of Companies
Dr Sonali Deraniyagala
SOAS South Asia Institute
Reseach Fellow, International Economic Development Group, ODI