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UN Group Pitches Basic Income Proposal to Sri Lanka – FT

The UNDP suggested a temporary basic income, in the form of an unconditional cash transfer to working-age Sri Lankans for six to nine months


China should have reviewed BRI projects in Sri Lanka more thoroughly, Bangladesh minister says.
The economic crisis in Sri Lanka led to riots that caused the former president to flee. Bangladesh's finance minister says China should have been more careful with the Belt and Road loans it gave to Colombo, as they were a factor in the country's collapse. File photo: AFP.

 

The United Nations Development Programme (UNDP) has asked Sri Lanka to introduce a temporary basic income and tie its debt reduction to environmental conservation as part of measures to alleviate economic turmoil, the Financial Times reported.

The UNDP suggested a temporary basic income, in the form of an unconditional cash transfer to working-age Sri Lankans for six to nine months. Similar programmes have been implemented in Kenya and the US state of Alaska.

Read the full report: Financial Times

 

READ MORE:

IMF Says Any Loan to Sri Lanka Requires Debt Sustainability

Reluctance to Tap IMF Help Led Sri Lanka Into Economic Abyss

Sri Lanka Bondholders Face Painful Debt Restructuring Hit

 

 

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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