Posted on 09.12.2018 by Chandana Sirimalwatte in Local News with 0 Comments
Neither the Sri Lankan government nor the International Monetary Fund (IMF) had conducted an assessment of the economic reforms implemented, from the human rights point of view.
United Nations Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights, Juan Pablo Bohoslavsky said concluding his 9 day visit to Sri Lanka.
Besides fiscal consolidation measures, there were also reforms on its social safety net programmes. Sri Lanka’s vision 2025 programme (launched in 2017) lays out a series of announced measures for 2025 including deregulatory reforms impacting on land and the labour market,” he said.
“The government must conduct an ex ante human rights impact assessment when it rationalises fuel subsidies and social security benefits or when a more profit-oriented logic is introduced into public services or state-owned corporations.”
“The government has expressed its intention of engaging in public-private partnerships in important social sectors such as health, education, etc. Pointing to the fact that debt repayment has become the most important expenditure for Sri Lanka, Bohoslavsky recommends that debt sustainability analyses should be carried out by the Government and international financial institutions based on a more comprehensive understanding of debt sustainability, incorporating human rights and the social and environmental dimensions of sustainability.
First, boosting domestic demand through various channels, including progressive tax reforms, expanding social benefits and increasing of minimum wages, among other measures; the resulting improvement in GDP growth would increase fiscal revenues. Fiscal, monetary, economic and social policies need to be fully consistent.”