From pensions for all, investing in nature, to where do we go from here with COVID-19 — read all about it in our Weekly Wrap.
The Government this week launched a public consultation process to formulate a system where all working Sri Lankans are eligible for pensions. The vision for universal pensions is a laudable one, especially for a country with a rapidly ageing population, but there will need to be many policy and legal reforms to ensure that liveable pensions are accessible to all workers. Perhaps the place to start is to stop defining pensions between the public and private sectors.
Nearly ten months on from the declaration of COVID-19 as a global pandemic, many countries eased restrictions, lockdowns and curfews in an attempt to stimulate their economies and commence the recovery process. Among these countries, Sri Lanka has made notable strides in controlling the spread of the virus thus far. However, moving out of a lockdown is no guarantee that the outbreak is being kept at bay, even while borders remain closed to the extent that they currently are, as demonstrated by recent evidence of the emergence of a new cluster.
When people think about nature’s value, they often equate it with their experience of hikes in the mountains or even the sound of birds in the morning. Certainly, people have appreciated nature more during the COVID-19 pandemic, but its value goes beyond the aesthetics. It has further underscored the critical importance of nature, both for economies and for people.
The mission of the World Bank Group is to work with countries toward alleviating extreme poverty and boosting shared prosperity through inclusive, sustainable growth. Today, with COVID-19 sweeping across the globe, a historic global recession, and the world’s poorest bearing the brunt of the crisis, good development outcomes are both more difficult and more essential.