Sri Lanka’s Economic Recovery: Lessons for Pakistan

In this episode, Dr. Shantayan Devarajan and Dr. Ijaz Nabi talk about Sri Lanka’s economic crisis, comparing it to Pakistan’s situation, and exploring potential solutions. They discussed the stabilization measures, structural reforms, debt restructuring, and the role of the IMF in supporting developing economies. The conversation also touched on trade liberalization, social protection programs, and the challenges faced by Sri Lanka’s education system, concluding with a brief discussion on the US economy’s impact on global trade structures.

Dr. Shanta Devarajan is a professor of the practice of international development at Georgetown University’s Edmund A. Walsh School of Foreign Service. He was previously at the World Bank, where he was the senior director for Development Economics, the chief economist of the Middle East and North Africa, Africa, and South Asia regions and the Human Development Network. He was also a director of the 2004 World Development Report, Making Services Work for Poor People. Before 1991, Shanta was on the faculty of Harvard University’s John F. Kennedy School of Government.

Dr. Ijaz Nabi is Country Director (Pakistan) at the International Growth Centre hosted. He was a member of Pakistan Prime Minister’s Economic Advisory Council, chairs the boards of Punjab Population Innovation Fund and Punjab Skills Development Fund and is on the board of Pakistan Poverty Alleviation Fund. He was at the World Bank in Washington DC (1986-2008) and worked on Mexico, Korea, Thailand (leading the World Bank team during the East Asian financial crisis), Malaysia, Korea, Laos and Myanmar, and in 2002-2008 was Manager, Economic Policy, for South Asia region.