President got what he wanted; he must now get the job done

Saturday, 24 October 2020 00:01 - - {{hitsCtrl.values.hits}}

President Gotabaya Rajapaksa

Many who have worked with the President say he is a determined and disciplined man, also committed to doing good for the people of this country. The new powers that he got with the support of eight crossovers from the Opposition, which his brother former President Mahinda Rajapaksa enjoyed, must now be used to get the job done fast, efficiently and professionally.

He must not allow his aides to flex their muscle on his behalf and discredit his image in the eyes of the public. Already there are such rumblings. He needs to assemble a clean and competent team irrespective of colour or race. The next two years are going to be extremely important to Sri Lanka and it’s going to be extremely important in the years to come.

COVID-19 is going to create a lot of social angst. More people are going to question the role of Government and look for people to blame. There is going to be a lot of anger against rich people, anger about corporate greed.

People are now recognising that there are many unknown risks that can happen any time, and they have to prepare for them. It’s likely that the focus on climate change, biodiversity, sustainability and social consciousness will increase in the days to come. Meanwhile, global economic contractions resulting from the COVID-19 pandemic have far exceeded those of the Great Recession that ended in 2009 and have occurred at a much faster rate, hitting all sectors and many of the world’s largest employers.

Sri Lanka 2021

As countries plan for various outcomes in 2021, Sri Lanka will very likely need to plan for almost another year during which public health measures are their primary tools for saving lives. In the meantime, the economy cannot be idle.

Societies have been upended, causing unprecedented disruption to economies, education systems, and the day-to-day lives of people everywhere. And as experts have argued, ending lockdowns alone won’t restore economic confidence or growth. Only when the virus is fully under control will economic growth resume.

No nation has escaped widespread disruption from the COVID-19 pandemic, but some have fared better than others. The state of recovery in some of the emerging Association of Southeast Asian Nations (ASEAN) countries—Indonesia, Malaysia, Philippines, Thailand, and Vietnam—that began the crisis at a disadvantage and have suffered disproportionate effects and continuing. Leaders therefore must be prepared to reimagine their country’s economy in five areas: manufacturing hubs, green infrastructure, investments in digital, reskilling, and high-value food industries.

Like 2020, for Sri Lanka 2021 will certainly be another challenging year with COVID-19 lingering on well into the year, rising geopolitical and trade tensions; leadership transitions, a mix of excitement and caution about technology and artificial intelligence; and sobering equity markets and emerging markets.

When history books one day recount the COVID-19 pandemic of 2020 in Sri Lanka, it may well be a tale of human ingenuity and adaptiveness that got us out of the pandemic and the economic troubles. The economic team led by State Minister Cabraal and Governor Prof. Lakshman will be fully tested.