As the 2024 Presidential election approaches, ‘At HydePark with Indeewari Amuwatte' featured Dr. Ahilan Kadirgamar, Senior Lecturer from the University of Jaffna and a renowned expert on Sri Lanka's political economy, to explore the critical economic policies Sri Lanka must adopt to navigate the country’s worst economic crisis since independence. Dr. Kadirgamar discusses the root causes of the crisis, examining both domestic policy failures and the broader global economic conditions that have contributed to the current situation. He critiques the economic strategies of successive Sri Lankan governments and highlights the potential pitfalls of continuing down the same path without significant reforms. The conversation also touches on the controversial agreements with the IMF, questioning whether the conditions imposed are in the best interest of the Sri Lankan people. Dr. Kadirgamar advocates for a renegotiation of these agreements to ensure that the focus is on self-sufficiency and reducing social suffering, rather than austerity measures that could further cripple the economy. Looking to the future, Dr. Kadirgamar emphasizes the importance of prioritising health, education, and food security in the recovery process. He argued for a comprehensive restructuring of Sri Lanka's debt, warning against the risks of repeated defaults and stressing the need for policies that ensure long-term stability and growth.

The Secretary General of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), Indra Mani Pandey says the seven member states of the association are collectively working towards realizing their Sustainable Development Goals. Joining this week's episode of ‘At HydePark with Indeewari Amuwatte' the Secretary General of BIMSTEC, discussed the importance of regional integration among member states and the initiatives taken by each state to support other member nations in achieving individual development goals. Discussing latest developments in the organization the Secretary General Pandey said, a special report prepared by an eminent persons’ group is scheduled to be published in the next BIMSTEC summit, in order to identify the weaknesses and opportunities presented by the BIMSTEC for its member states. He also said a Technology Transfer Facility is expected to be set up in Colombo, enabling the member nations to have access to technologies developed by other BIMSTEC member states.

Joining this week's episode of ‘At HydePark with Indeewari Amuwatte' the World Bank's Chief Economist for South Asia, Franziska Ohnsorge discussed key indicators outlined in the recent release of the Sri Lanka Development Update, titled "Bridge to Recovery”. She highlighted several positive developments, such as easing inflation, increased revenues due to new fiscal policies and a current account surplus for the first time in nearly fifty years. These gains have been supported by rising remittances and a resurgence in tourism. Also talking about the South Asia Development Update, Ohnsorge said that South Asia is poised to maintain its status as the world's fastest-growing region, largely propelled by India's robust economic expansion. However, this optimistic outlook masks underlying challenges. Many countries in the region still lag behind pre-pandemic growth levels, relying heavily on government spending. She added that in order to ensure more resilient and enduring growth, nations must implement policies that foster private investment and enhance employment opportunities. Ada Derana | ශ්‍රී ලංකාවේ විශ්වසනීය හා ප්‍රමුඛතම පුවත් සපයන්නා

Dr. Pramod Varma, Co-Chair of the Centre for Digital Public Infrastructure in India, explains the fundamentals of a Digital ID, which Sri Lanka also plans to introduce. He spoke of how the Indian government streamlined the process of providing government aid to the general public through the digital ID. Joining ‘At HydePark with Indeewari Amuwatte’, Dr. Varma, who led India’s ‘Aadhar’ Digital ID program in 2009, explained how laws were ensured to protect personal information and privacy of data of individuals. Dispelling recent rumours, he also assured that data of Sri Lankans will not be shared with the Indian Government through Sri Lanka’s programme to introduce digital IDs to citizens, launched in collaboration with India. Also joining the program, the Secretary to the Ministry of Technology, Dr. Dharmasri Kumaratunga, assured that all data collected will be secured within Sri Lanka and that it will be used to streamline the process of welfare distribution. He assured that the digital ID will only be used to identify individuals, strictly for use when providing government services.

Samagi Jana Balawegaya MP Eran Wickramaratne says the main opposition is ready for any election, and commended the President's statement on holding Presidential election first. Commenting on possible alliances, MP WIckramaratne said that the SJB is continuing discussions with all interested stakeholders. Joining 'At HydePark with Indeewari Amuwatte’, MP Wickramaratne said that a merger with the origin party of SJB- the United National Party, is possible under the right circumstances as both parties' socio economic opinions run parallel to each other. Meanwhile discussing his decision to resign from the Committee on Public Enterprises, Eran Wickramaratna said that the ethics and character of a person must be evaluated along with the skill and knowledge when appointing members and chair to committees.

I STAND FOR A UNITED, UNDIVIDED INDIVISIBLE SRI LANKA - M A SUMANTHIRAN 'AT HYDE PARK WITH INDEEWARI AMUWATTE' MP of Ilankai Tamil Arasu Kadchi M.A. Sumanthiran, says that his party is ready to work with any President in office but, solving the Tamil national question will remain a priority. Joining 'At HydePark with Indeewari Amuwatte,' MP Sumanthiran discussed at length the ongoing IMF Extended Fund Facility Program, prevailing social issues in the country, power devolution and the upcoming election. Commenting on the recent meeting with President Ranil Wickremesinghe on Sri Lanka’s IMF arrangement, MP Sumanthiran said his party did not have any reason to boycott the meeting and that as public representatives, politicians are responsible for engaging in matters that impact the country and citizens. On his personal Political stance, Sumanthiran said he stands for a united, undivided, even indivisible Sri Lanka in which powers of governance are shared among the people of the country.

In this episode of 'At HydePark with Indeewari Amuwatte, Carol Spahn, the Director of Peace Corps, who is in Sri Lanka, to oversee the swearing in of 20 Peace Corps Volunteers from the United States discuss the educational program that is set to be implemented in the country. The 25th group of Peace Corps volunteers are set to embark on a two-year service journey as English teachers in the Central and Uva provinces. The Director of the Peace Corps, Spahn said that Volunteers will work alongside their Sri Lankan counterparts, including English teachers and principals, to deliver English language instruction to Sri Lankan school children. Further, she also discusses the challenges and opportunities experienced by the Peace Corps while commending the support of the local authorities and added that the Peace Corps is willing to expand the program throughout the country.

Veteran cinematographer Chandran Rutnam asserts that the film industry is one of the top five revenue generators globally and that it can be a major source of income for Sri Lanka, if essential infrastructure facilities are in place. Joining 'At HydePark' with Indeewari Amuwatte, the filmmaker highlighted that, Sri Lanka must promote and invest in iconic locations of the country featured in international movie productions, such as in the critically acclaimed Hollywood movie "The Bridge on the River Kwaii". Rutnam disclosed his intentions to position Sri Lanka as the Asian Film Capital and stated that a number of Indian producers and directors have expressed a strong desire to film in Sri Lanka.

Joining ‘At Hydepark with Indeewari Amuwatte’, Japanese Ambassador to Sri Lanka Mizukoshi Hideaki says his country expects an early conclusion of the Memorandum of Understanding on debt treatment between Sri Lanka and the Official Creditor Committee - co-chaired by Japan, France, and India, adding that debt restructuring is a crucial step for Sri Lanka to restore the island nation’s debt sustainability. Highlighting that the Japanese government had to suspend all yen loan projects following Sri Lanka’s debt standstill announcement in 2022, the Japanese Envoy in Colombo said funding for all suspended projects will resume, especially for construction of Terminal-2 of the Bandaranaike International Airport, which was also inspected by Japanese Minister of Finance Shunichi Suzuki during his recent visit to Sri Lanka. Further, Japanese Ambassador Mizukoshi Hideaki said his country wants Sri Lanka to be a strong independent nation and added that Japan hopes to obtain more support from island nations for the Japanese economy to address issues such as an ageing population. This programme was live recorded on January 22, 2024 and aired on Ada Derana 24 on January 25, 2024.

Former Foreign Secretary of India Ambassador Shyam Saran explained that India’s support rendered towards Sri Lanka's economic recovery has no strings attached adding that "what India offers to Sri Lanka is either on grant or credit at low rate". Speaking to Indeewari Amuwatte during the current affairs programme ‘At HydePark’ on Ada Derana 24 during his visit to Sri Lanka in ... 2023, Shyam Saran reaffirmed that India does not object Chinese investments in Sri Lanka but cautioned that the Sri Lankan government should be mindful whether such investments serve the country’s interest. Highlighting that India being Sri Lanka's geographically closest neighbour in the South Asian Region, "has its own genuine security concerns", the Former Indian Foreign Secretary was of the view that both Sri Lanka and India naturally have a reciprocal advantage of being concerned about each other’s security. This episode of 'At HydePark with Indeewari Amuwatte' was aired on Ada Derana 24 on 2 November 2023.

Public Policy Analyst and President of the Institute for 21st Century Questions Dr. Irvin Studin pointed out that the closure of schools in Sri Lanka during the period of the COVID_19 pandemic, was one of the longest in the world, Sri Lanka should ensure that schools are run with high energy. Speaking to Indeewari Amuwatte during the current affairs programme 'At HydePark' on Ada Derana 24, Dr. Studin was of the view that government has to take necessary measures to rectify the education loss due to the pandemic by considering the education of children as a national mission. This episode of 'At HydePark with Indeewari Amuwatte' was aired on Ada Derana 24 on 9 November 2023.

On this episode of ‘At HydePark', officials of the International Monetary Fund on a staff visit to Sri Lanka, joined Indeewari Amuwatte for an exclusive discussion on Sri Lanka’s crisis recovery process and beyond. IMF Senior Mission Chief for Sri Lanka, Peter Breuer said the macro-economy is showing signs of recovery, however the current stability in the Sri Lankan economy is yet to reach the broader population. While highlighting the agreements reached in principle with China’s EXIM bank and the Official Creditor Committee to restructure the country’s debt as a major milestone, Breuer said the global lender expects Sri Lanka’s debt issues be solved within a couple of months to ensure that there are no complications when the second review of the IMF EFF programme is evaluated by its Executive Board. He said the IMF expects tax revenue to improve to 12% of GDP in 2024 and emphasized the importance of introducing property/wealth tax in order to minimise the tax burden on the majority of the population. Meanwhile, IMF Resident Representative in Sri Lanka, Dr. Sarwat Jahan, who also joined the discussion ‘At HydePark with Indeewari Amuwatte’, said Sri Lanka should focus on implementing recommendations that were outlined in the Governance Diagnostic report, the first published by an Asian country with the technical support of the IMF.

On this episode of ‘At HydePark with Indeewari Amuwatte’, veteran civil servant Austin Fernando discusses the crucial incidents leading to an escalation of the civil war in Sri Lanka and the historic events of the country's political landscape. Elaborating on the social unrest that began with the passing of the Official Language Act of 1956 and the 1983 Black July riots, the former public administrator pointed to the unavoidable responsibility of the civil war on former governments, administrators and politicians. Austin Fernando, who had served under 6 Sri Lankan Executive Presidents, added that the actions of politicians representing the minorities too contributed to escalating tensions and emphasized that public administrators who were in positions of power, should have done more to prevent some of the darkest episodes of Sri Lankan history.

Central Bank Governor Dr. Nandalal Weerasinghe highlighted the importance of restructuring the country's debt, noting that it paved the path for lower debt servicing obligations by the government, thereby enabling the private sector to have more access to credit and resources essential for growth. During his first interview with Indeewari Amuwatte 'At HydePark' following the IMF's approval of the 2nd tranche of the Extended Fund Facility programme to Sri Lanka, the Central Bank Chief refuted claims that the Sri Lankan Government is imposing conditions set out by the International Monetary Fund. He said the reform programme implemented to overcome the crisis is fully owned by the Sri Lankan government and that the IMF is only monitoring progress to provide assurances that the programme is feasible. Speaking further, Dr. Weerasinghe assured the public that the country which was on the verge of collapsing is now on the right path and the year 2024 and beyond will have more positive results in terms of economic growth and stabilisation.

SRI LANKA MUST HAVE INNOVATIVE EDUCATION - DR. BANDULA WIJAY ‘AT HYDEPARK WITH INDEEWARI AMUWATTE’ On this episode of ‘At HydePark with Indeewari Amuwatte’, Sri Lanka's Ambassador for Science, Technology and Innovation Dr. Bandula Wijay discussed how entrepreneurship and innovation can support Sri Lanka's progress and path to recovery. Dr. Wijay said, the main change must take place in the idea of education which should encourage creative and critical thinking enabling students to come up with innovations that can support themselves and the country. He further emphasized that the education system must encourage innovation by creating an environment where students get hands-on experience and guidance from innovators directly. Commenting on the current brain drain in the STEM career fields, Dr. Wijay said, despite the place or the sector students receive education from, the government must introduce a standard mechanism for all sectors to produce more professionals in the STEM fields while also retaining skills in the country.

INDIAN HIGH COMMISSIONER GOPAL BAGLAY JOINS ‘AT HYDEPARK WITH INDEEWARI AMUWATTE’ On this episode of ‘At HydePark with Indeewari Amuwatte’, outgoing Indian High Commissioner Gopal Baglay discusses the vision for the advancement in bilateral relations between Sri Lanka and India, with the anticipated economic growth of India. Indian envoy to Sri Lanka says India does not have any strings attached to the assistance extended to Sri Lanka during crisis times and in the debt restructuring process, adding that the leaders of India are keen on protecting and strengthening ties with Sri Lanka. Further elaborating, the High Commissioner explained the areas in which India sees potential for investment- education, power and energy and transportation. He also commented on ongoing negotiations related to the bilateral Economic and Technology Cooperation Agreement saying the two countries are focusing on expediting its implementation. Speaking on security concerns of the Indian Ocean region, High Commissioner Gopal Baglay said peace and security should be a shared responsibility of both nations.

On this episode of ‘At HydePark with Indeewari Amuwatte’, former Resident Representative of the International Monetary Fund to Sri Lanka, Dr. Nadeem Ul Haque and Professor in Economics at University of Colombo, S. P. Premaratne discuss Sri Lanka’s ongoing debt restructuring process, tax reforms and how the economy should modernise to face challenges of the future “. Former IMF Resident Representative to Sri Lanka Dr. Nadeem Ul Haque said, the country should find alternatives and cut down subsidies for welfare and create opportunity for the economy to grow without considering the IMF bailout as a gift but a reform that needed to take place in the country. Further elaborating, Dr. Haque said, as a country recovering from crisis, Sri Lanka must look for ways to put the island in a position to attract foreign investment and take more risks in the recovering process. Also speaking to Indeewari Amuwatte, Professor in Economics at the University of Colombo, S. P. Premaratne said, the Sri Lankan government should also focus on non-conventional income methods without solely relying on the expected tax revenue in the coming years. He pointed out that data indicate a reduction in individual incomes due to the adverse effects on personal income and corporate income following the increase in VAT and income tax rates.

On this episode of 'At HydePark with Indeewari Amuwatte', an eminent panel of experts on Taxation discuss how Sri Lanka’s tax policy should be structured. Principal of the Tax & Regulatory Division of KPMG Suresh Perera points out that Sri Lanka must address tax policy and differentiate taxes according to an industry priority mechanism to reap the best tax income for the government, without having a uniform tax rate for all sectors which could be a disadvantage for certain industries. Perera said officers of the Inland Revenue Department should also be educated to understand different industry activities to make the tax collection mechanism more efficient. Meanwhile, Chairman of Ceylon Chamber of Commerce and Country Managing Partner of Ernst & Young (Sri Lanka & Maldives) Duminda Hulangamuwa pointed out that Sri Lanka is not in a position to give different taxes to each industry as the country is in the middle of a debt restructuring process. Hulangamuwa is of the view that until Sri Lanka attains debt sustainability status through the IMF programme, there will be no room for economic growth as the country is unable to attract Foreign Direct Investment without credibility assured by the IMF. Meanwhile, Senior Partner of Gajma & Co. N. R. Gajendran noted that tax relief could be given if the investment expenses of the corporation can be identified. Gajendran said that since the government is expected to broaden its tax net in the year 2024, authorities should clarify the government's decision to include all citizens above 18 years of age in the tax net by making it mandatory to open Tax Identification Number files with the Inland Revenue Department.

FORMER DIRECTOR OF CENTRAL BANK OF SRI LANKA DR. ROSHAN PERERA WITH INDEEWARI AMUWATTE ‘AT HYDEPARK’ ON ADA DERANA 24 The Former Director of the Central Bank, Dr. Roshan Perera supports the view that Sri Lanka’s Budget 2024 mainly focuses on continuing the macroeconomic stability that Sri Lanka has achieved over the past few months. Dr. Perera also noted that through the proposed budget, the government should also focus on providing more room for economic growth through the country's fiscal policy. Speaking to Indeewari Amuwatte at HydePark on Ada Derana, she further observed that, per the budget presented on November 13 regarding tax revenue, the challenging objective of achieving targets will be crucial to keep abreast with the International Monetary Fund's Extended Fund Facility.

Member of the Federal Parliament in Nepal and Economist Dr. Swarnim Waglé commended measures taken by Sri Lankan authorities to engage bilaterally with countries outside the South Asian Region to gain preferential trade access. During his visit in Sri Lanka, Dr. Waglé joined a discussion with Indeewari Amuwatte on the current affairs programme 'At HydePark’ on Ada Derana 24 where he outlined the importance for Sri Lanka to fulfil promises made to the International Monetary Fund under the Extended Fund facility programme. He pointed out that adhering to IMF conditions will send out a clear sign to potential investors that Sri Lanka is deeply considering the implementation of crisis measures to bounce back. He said that it is the duty of the leadership in the country to explain to the people why the IMF is consulted and the reason for implementing unpopular decisions.