COLOMBO: Sri Lanka’s economic crisis is directly linked to its governance crisis, and unless accountability issues, including corruption and democracy deficit, are addressed, the island may not be in a position to overcome its current challenges, subject experts say.
As Sri Lanka goes to polls on September 21, poor governance remains a key concern.
To restore public trust and to change the country’s trajectory, a few measures must be taken in the first 100 days of a new presidency, including the abolition of executive presidency, steps to return to a parliamentary system and create the post of independent public prosecution, says Dr Paikiasothy Saravanamuttu, internationally renowned rights advocate, Executive Director of the Colombo-based Centre for Policy Alternatives and Co-Convenor of the Center for Monitoring Election Violence.
Addressing governance concerns are as critical as economic reforms and relief to the people, he says. “The 2024 presidential election is not about selecting the best formula for economic revival. The IMF diagnostic report and a Sri Lankan civil society study have both identified systemic corruption as a significant malaise. The 2022 people’s movement was not just a reaction to the economic crisis but more of a reaction to the governance crisis. People called for an end to corruption, to drive corrupt politicians home, to create a meritocracy. Curbing corruption is at the centre of any future solution,” adds Dr Saravanamuttu.
Saliya Peiris, PC, former president of the Bar Association of Sri Lanka, says, democracy and governance are tied to sustainable development.
Sri Lanka goes to polls on Sept 21, poor governance remains a major concern
“There are those who claim that economic development must be given priority over democracy and governance. They argue that for the sake of the economy, democracy and the rule of law may be sacrificed. Those who believe these claims are willing to ignore the rampant corruption of politicians at the highest levels costing the public billions of rupees, cronyism, violation of orders of the highest courts, attacks on the judiciary, the weakening of independent institutions, the intolerance of dissent, appointments of corrupt and unsuitable persons to highest offices,” says Peiris.
“However, the reality is that democracy and governance are tied to sustainable economic development of a nation. Long-term economic stability is linked to the respect for democracy, the rule of the law, governance, and the rights of people,” he adds.
The democracy agenda is going to be key to the success of the next administration. The IMF diagnostic also identified systemic corruption as a contributor to the crisis we find ourselves in. Corruption and lack of accountability were significant drivers of Aragalaya, the 2022 people’s movement.
People felt the urge to protest, demand accountability, force the Rajapaksa family to step down and end family rule, all because their names were linked to grand corruption. “Addressing accountability issues of all kinds and prioritising governance will be key to success,” says Manjula Gajanayake, Executive Director of Institute of Democratic Reforms.
Adds Imran Furkan, a geopolitical risk analyst: “For Sri Lanka to overcome the current economic crisis, it is critically important to create conditions conducive for foreign direct investment. Nobody wants to invest in a country notorious for corruption with no systems in place.”
Dilrukshi Handunnetti
Award-winning journalist and lawyer, founder and director of the Colombo-based Center for Investigative Reporting (CIR)
