Reducing inequalities for equitable, sustainable human development
Nadeera Rajapakse
Policy Tribune, Vol 1 -Issue 2/ January 2025 The Bandaranaike Academy for Leadership & Public Policy
https://balpp.com/publications/
Policy Brief
Reducing Inequalities for Sustainable, Equitable Human Development
By Professor Nadeera Rajapakse
In the context of the economic (and political) crisis and its impact on individuals, groups, and communities, recovery measures need to address existing structural inequalities for two main reasons: first, because without removing inequalities, widespread economic and social prosperity is impossible, or is at best inequitable and non-inclusive. Second, inequalities are harmful in themselves, not only as effects on economic growth. In other words, like the Sustainable Development Goals (SDG) highlight [1] , inequality is a standalone goal as well as a crosscutting issue.
The brief makes policy recommendations aiming for meaningful, inclusive, sustainable economic development in Sri Lanka’s post-crisis context. By meaningful, we focus on people and not only on infrastructure; by inclusive we refer to policies that take into account plural identities, and by sustainable we target long-term goals over short-term profits. By using Amartya Sen’s concept of human development as enhancing personal and collective freedoms alongside GDP growth (1984, 1999) [2] , the recommendations made here aim to address the existing structural weaknesses and inequalities that have been exacerbated by Sri Lanka’s political and economic crisis. Interdisciplinary analysis is essential to take stock of intersecting categories of identity that influence inequalities. We focus on two areas, debt refinancing and the export of low-skilled labour, which are related concerns in Sri Lanka today, with widespread effects on human development.
Debt Refinancing
As a result of authoritarian political decisions on large-scale loss-inducing infrastructure investments and policies, the country faced severe foreign exchange shortages culminating in a debt crisis amounting to 103.8% of GDP as of March 2023 (Dias, 2023). [3] This crisis hit households at a time when many had not yet recovered from the shocks of COVID-19. After struggling through months of shortages of gas, fuel, electricity, medicine and many other essential items, the people took to the streets in protest.
With a change in leadership propelled by the people’s protests, the government’s response was to secure an International Monetary Fund bailout in 2022. In June 2024, the IMF agreed to a 48-month Extended Fund Facility providing the country with immediate access to about US $336 million, bringing the total funds disbursed to about US $1 billion (IMF executive board, 2024). These financing deals were linked to the IMF’s 2023 debt sustainability and requires debt to be paid down through high budget surplus.
Sri Lanka’s debt is held by both foreign and domestic creditors. Foreign creditors have been categorised into various groups [4] , of which we can differentiate bilateral creditors and ISB (International Sovereign Bond) holders and other commercial creditors. Negotiations are underway with bilateral creditors for debt relief, while ISB holders have suggested GDP growth-dependent debt restructuring. This means that debt repayments will be made according to GDP growth rates, with the country expected to pay higher interest rates on estimated future growth rates. Thus, the 28 percent debt concession granted at present could be reduced to 15 percent if growth rates surpass the limit set by the IMF (Kuruwita, 2024). In exchange for this emergency loan, the IMF imposed a series of conditions. Briefly, “further trade liberalization to promote exports and foreign direct investment; labor reforms to upgrade skills and increase female labor force participation; and state-owned enterprise reforms to improve efficiency and fiscal transparency, contain fiscal risks, and promote a level playing field for the private sector” (IMF, 2024).
These conditions along with the GDP-related concessions, calling for a budget surplus, which in turn requires greater inflows of foreign exchange, bring us to the second issue discussed here: Sri Lanka’s highest foreign exchange earner: low-skilled migrant workers.
Export of Low-skilled Migrant Labour
Contributing to 5.1% of GDP, low-skilled women migrant domestic workers (maids) overall remittances surpass earnings coming from tea and garment exports (World Bank blog, 2022). While, on the one hand, remittances are seen as exerting a positive effect on development, poverty alleviation and unemployment (Ratha, 2023), on the other hand, this type of gendered labour is characterised by exploitative and abusive working conditions, the lack of rights, and multiple layers of risk and vulnerabilities. The government has been unable to protect migrant workers and often use restrictions and bans as a way of addressing the dangers they face (Weeraratne, 2022). However, as Amartya Sen’s development framework shows, restrictions imposed on the women’s (and men’s) right to migrate and find employment opportunities only exacerbate the risks. Instead of effectively dissuading them from migrating, restrictions force migrants to seek irregular, informal means of mobility, thus exposing them to even greater vulnerabilities. Just as the IMF emphasises female labour force participation, the lack of alternative employment and of sustainable livelihood options are seen as push factors driving women to seek employment abroad despite the risks.
Exacerbating Structural Inequalities Prevalent in the Country
Inequalities
The IMF debt finance scheme was hailed by many with relief as the only resort for Sri Lanka to emerge from its debt crisis. However, many others spoke out against its debilitating effects on the wider population. The bail out came with austerity measures, including cuts in public spending, steep increases in utility tariffs, food and energy costs, indirect and regressive taxation, limited cash handouts as social security. While we separate inequalities into various categories for purposes of clarity, we insist that these categories overlap and need to be considered as intersecting and compounding factors.
Gender-based inequalities : Due to their unpaid caregiving roles at household level, women often shoulder responsibilities of ensuring families are fed, looked after and educated, even as they face falling wages, rising food, electricity and water bills, precarious and informal employment and lack of access to meaningful social security. Consequently, the current debt refinancing proposals, which prioritise external creditors and ensure re-entry into finance markets, bail out private finance (both local and global) by putting the burden on the workers, and especially women workers – both paid and unpaid. [5]
Domestic debt restructuring has placed the burden on public pension funds, with teachers and nurses, among others, having their pensions slashed. Cuts in public spending on education, health and social security will further aggravate the burden faced by women, but not only: income, age and ethnic origins are also categories upon which inequalities thrive.
Income inequalities: Colombo may look dazzling with its luxury hotels and malls, but the crises faced by working class families tell a different story. Research has shown that the quality of life of working-class families has deteriorated and that they are still battling with everyday expenses. Accumulated bills and shortages have put them in situations of severe debt, compounded by the increases in the prices of essential items, following VAT increases. They are at a “point of no return” (Colombo Urban Lab, 2023), taking loans to survive, rather than to navigate one-off shocks. Consequently, reducing inflation and bringing food prices down are welcome, though not sufficient to ensure long-term sustainable growth. Here too women face much of the burden of managing the daily needs of their families and face the pressure of negotiating loans. In a situation where alternative funding is absent, they turn to microfinance and moneylenders (Arambepola, 2019). Thus, understanding the complex and intersecting needs driving households to debt is essential when discussing the regulation of microfinance and informal credit markets.
Age-related inequalities: Older people are particularly at risk during the current situation as a result of underlying health conditions, social and economic disadvantages, and insufficient social protection mechanisms. In addition, the economic crisis led to greater food insecurity and inaccessible healthcare for older people. “Many older people aren’t receiving their full list of prescribed medicines and cannot afford to buy privately. Some have stopped taking their medications altogether, waiting until the drugs are available again. Others are turning to alternative medicines such as Ayurvedic or traditional methods which can only serve as a temporary measure” (Helpage International, 2022).
The domestic debt restructuring also worsens the situation for older people, who tend to either be out of paid work or earning very little and whose pensions and available savings are very quickly used up on food and healthcare. According to the Household Income and Expenditure Survey of 2019, people aged 65-years-old and above are the poorest group in Sri Lanka (Department of Census and Statistics, Multidimensional Poverty in Sri Lankan, 2019).
Minority rights-related inequalities: Crises and conflicts tend to exert disproportionate impacts on vulnerable groups, which include ethnic and religious minority groups in Sri Lanka, who have faced long-term patterns of discrimination (Hennayake, 2006). The State needs to recognise and remedy human rights violations to ensure justice, safety and security, essential capabilities for inclusive human development and growth (Sen, 1999). Justice is required to address enforced disappearances, land disputes, disenfranchised populations and environmental issues.
Harassment and discrimination on the basis of identity-related issues (gender, sexual origin, sexuality, religion, ethnic origin, etc.) not only impede productivity on labour markets, thus hampering economic growth, but also cause harm to society’s wellbeing (Ariyarathne, 2022).
“Decisions on economic policies must be guided by Sri Lanka’s international human rights obligations, including by ensuring adequate social protection. (…) Sri Lanka’s creditors should provide the Government with the fiscal space needed to realise economic, social and cultural rights” (Office of the High Commissioner for Human Rights, 2024).
The failure to protect minority rights and well-being creates a big push factor propelling risky, costly emigration, borne by society at large.
“(…) the dominant three foreign exchange earners for the country – garments, tea exports and migrant workers to the Middle East – rest on the efforts of women workers” (Ruwanpura, 2022).
The unforgiving spiral of debt servicing without considering equitable growth: The imperatives of debt service put huge pressures on essential social spending in Sri Lanka, even before being forced into debt default and having to approach the IMF for assistance. Sri Lanka now faces massive constraints even in continuing with earlier social spending levels, much less in responding adequately to the need for greater social protection in the face of the economic crisis caused by debt distress. The lack of professional skills, which would be further widened by reduced public spending, and the lack of imagination in absorbing women gainfully into the economy, along with the pressures to tend to her dependents will not remove incentives pushing women to migrate. However, valuing her work and enabling freedoms to migrate safely and work in decent conditions are feasible policy orientations.
Recommendations
Deprivations are intersecting. Some workers face numerous compounding deprivations stemming from gender and ethnic discrimination, such as women employed in the garment industry and tea-plantation workers, especially those from minority Tamil groups. Policy conditionalities associated with debt relief have rarely shown an understanding of gender dynamics, not recognising the different ways that women and men – across intersectional identities – interact with the economy, as paid and unpaid workers, as household providers, as family members and as citizens (Ghosh, 2021).
Universal social protection “Social security is not charity but a human right of all people. Women’s groups are demanding that universal social security in this time of crisis be made binding and enforceable by law. Without meaningful expansion of social safety nets and increasing fiscal allocation, targeted schemes like Aswesuma will not benefit the millions of families hit hard by the crisis.” (Dias, 2023).
Sri Lanka must move away from targeted social welfare schemes to systems that offer universal social protection, particularly in the context of crises. Targeted poverty reduction schemes have their weaknesses and in Sri Lanka, inefficient targeting as well as outdated eligibility criteria – those for the Aswesuma welfare scheme were developed before the debt crisis – result in many vulnerable groups slipping through the net. The multidimensionality of vulnerability and poverty also needs to be considered, going beyond basic income related criteria. [6]
It should also be recognised that 66 per cent of the labour force work informally, including women who do unpaid domestic care work, so have little access to social protection schemes. Similarly, only 40 to 50 per cent of older people receive any form of benefit such as pensions, provident funds, or cash payments (Helpage International, 2022). Contradictory measures like targeting the already meagre pension funds of Sri Lanka’s wage workers, only exacerbate existing class, gender, and ethnic inequalities. In particular, any requirements of public spending cuts that reduce employment in public services or reduce wages of public workers, should be avoided.
It is unrealistic to expect specific programmes targeted to women/children to undo the damage created by broader macroeconomic policies that reduce employment and livelihoods. Therefore, as far as possible, policies should be universal so as to prevent unjustified exclusion of those already disadvantaged in other ways. [7]
Collective bargaining for women migrant workers
Commodification is a phenomenon afflicting women migrants, by which they are recognised only for the service they provide, and hence low-skilled and low valued (Rajapakse, 2023). The unlimited supply of low-skilled labour from competing sending countries in the face of asymmetric power wielded by receiving countries is a situation that facilitates commodification of migrant labour. Sri Lanka’s National Migration Policy has the protection of workers as a core policy area, which can be made more efficient if sending countries negotiate collectively for their migrant workers’ rights. Turning regional rivalries in South Asia into potential collaborative endeavours, such as the Colombo Process, is imperative (IOM, 2003). [8]
The nature of vulnerabilities as well as the exploitation and abuses that low-skilled workers from the region generally experience is similar despite the differences in their nationalities. South Asian countries need to demand better terms of employment and increased protection for their workers. Most sending countries have ratified conventions and laws aimed at protecting their migrant workers. These are nonetheless ineffectual if destination countries, especially in the Middle East, have not. Developing common solutions, strategies and facilities, such as insisting on domestic work being included in labour laws in destination countries, setting up common safe houses and transit homes in destination countries, in coordination with embassies/diplomatic missions of SAARC Member States need to be done collectively. [9]
Avoiding fiscal austerity
Imposing fiscal austerity measures should be avoided because countercyclical policies are required during the downswing and debt relief measures should be directed towards ensuring such countercyclicality. Regressive indirect taxation measures like value added tax (VAT) that increase prices of essential commodities are anti-poor and anti-women and can inhibit economic recovery. They also have a significant gender dimension for female consumers and producers, since women-run Micro, Small and Medium Enterprises (MSME) are more likely to be unregistered, and therefore less able to redeem tax payments on their inputs, which are already likely to be more expensive as they are buying on a smaller scale. Instead, the structure of taxation can be changed to focus on more progressive taxation, in particular through equitable taxation of multinationals, taxes on extreme wealth, taxes on financial transactions.
Ensuring equitable labour-market participation
Since labour market participation is often at the core of IMF conditions, especially that of women, the country should take measures to ensure equal wages to men and women in both the public and private sectors. There needs to be appropriate measures for internal debt relief, especially for women-owned MSMEs in informal credit arrangements. It is important consider specific requirement of women borrowers and borrowers from previous conflict-zones who are less likely to have collateral and land titles that provide access to credit. It is also important to recognise the very specific needs of women entrepreneurs, especially with regard to access to inputs and markets. For example, facilitating childcare arrangements for working mothers and migrant mothers. Policies need to facilitate greater associations and unions of women workers, both employed, self-employed and migrant.
Considering debt cancellation
Scholars have pointed to the possibility of debts unpayable being cancelled. Debt justice movements across the developing world have urged for the cancellation of all unsustainable and illegitimate debts in a manner that is ambitious, unconditional, and without carrying repercussions for future market access. Past cases show how reducing debt stock and debt payments allow countries to increase their public financing for urgent domestic needs. The IMF’s Debt Sustainability Analysis (DSA), which measures sovereign vulnerability to sovereign debt stress, must incorporate SDG financing needs, climate vulnerabilities as well as human rights and gender equality commitments into its methodology (Ghosh, 2021). Sri Lanka is strengthening ties and membership with the BRICS and this is an opportunity to suggest greater solidarity, cooperation and stronger governance: in other words, opportunity to discuss alternatives to ultraliberal, competitive, market-based economic policies.
Strengthening Justice and Human Rights
It is essential to strengthen Sri Lanka’s Human Rights framework in order to enhance the freedoms of every person by repealing discriminatory laws (for example, 365 and 365A of the Penal Code of Sri Lanka, which criminalise same sex intimacy) and ensuring that the country move away from a military state by repealing the prevention of terrorism act. (Rajasingham Senanayake, 2011). Overall, in keeping with the goal of greater accountability and governance, stakeholders and experts need to be continuously included in participatory, deliberations on decision-making, laws, truth and reconciliation commissions and anti-corruption efforts (Orjuela, 2008).
Conclusion
We need to break the vicious spiral: because there is more power given to external creditors, maintaining investor confidence and avoiding the risk of capital flight are priorities underpinning all macroeconomic policies. As a result, public spending is further curtailed to make sure eventual capital flight can be absorbed without expanding the budget deficit. Consequently, there is lower social security and greater deprivation for many categories of people. Therefore, countries like Sri Lanka, with the greatest need of social protection for its most vulnerable categories of people, spend the least amount on it through public expenditure, which is, on the contrary directed towards debt servicing. [10]
Acknowledging that broader development depends on equitable development and considering the detrimental effects neoliberal policies have exerted in Sri Lanka, Sen’s idea of finding the middle path – combining the advantages of liberal and open economic systems with strong welfare and social protection policies and governance – offers alternative possibilities. Finally, the struggles for debt justice and overall economic justice need to be linked to the struggles for equality and freedom.
Notes
- SDG 10 Reduced inequalities: “Inequalities based on income, sex, age, disability, sexual orientation, race, class, ethnicity, religion and opportunity continue to persist across the world. Inequality threatens long-term social and economic development, harms poverty reduction and destroys people’s sense of fulfilment and self-worth. This, in turn, can breed crime, disease and environmental degradation. We cannot achieve sustainable development and make the planet better for all if people are excluded from the chance for a better life”. https://www.un.org/sustainabledevelopment/inequality/
- “The Capability approach judges individual well-being not in terms of goods consumed nor in terms of utility satisfaction, but rather on the realized functions, i.e., the set of alternatives a person has”. In Sen’s words, it is a “perspective of freedom in a positive sense: who can do what” (Sen 1984, 376).
- Political crisis because: “This latest round of ‘odious debt’ in Sri Lanka was created by an authoritarian and corrupt government, led by a President who initially fled the country rather than take responsibility for the economic catastrophe he unleashed. If the Pandora papers are anything to go by, a former President and an entire corrupt family clearly accumulated personal wealth at the expense of Sri Lankan people. This is an economic catastrophe that was enabled and facilitated by highly paid financiers at places like Blackrock and other private investment firms, which now hold almost 35% of Sri Lankan external debt. Their windfall profits during a global pandemic indicate the extent to which they have profited at a time of human misery” (K Ruwanpura, 2022). Also, it has been termed odious debt because “much of it is odious debt used to extract funds by both global creditors and local elite, without using it in the interests of the broader citizenry” (Yukthi, 13 May 2024).
- “These creditor groups are the Official Creditor Committee of official bilateral lenders (co-chaired by France, India, and Japan), who hold $5.8 billion of Lankan debt; the China Exim Bank ($4.2 billion); other Official Creditors (Kuwait, Saudi Arabia, Iran, Pakistan – $0.3 billion); ISB holders ($14.2 billion); China Development Bank ($3.2 billion) and other commercial creditors (under $0.2 billion)” (Kuruwita, 2024)
- Amartya Sen refers to the “social technology” that enables the economic system to function thanks to the invisible contribution of women performing unpaid work (1991). $10.8 trillion – the total earnings of women’s unpaid care work as reported by Oxfam (2020)
- “According to the UNDP report on multidimensional vulnerability of Sri Lankans, as many as 12.34 million people in Sri Lanka (55.7% of Sri Lankans) are multi-dimensionally vulnerable, and yet only 2 million households have been selected as beneficiaries under Aswesuma” (Colombo Urban Lab, 2023).
- “In the 2023 budget, the Government allocated LKR 539 billion for defense and public security while household cash transfers and food relief (which includes all the key social welfare programs such as Samurdhi, allowances for elders, disabled, kidney disease, school meal programs and nutrition programs for mothers and children) was allocated LKR 187 billion. Sri Lanka continues to remain one of the countries in the region that spend the least of its GDP on social welfare” (Colombo Urban Lab, 2023).
- “The Regional Consultative Process on Overseas Employment and Contractual Labor for Countries of Origin in Asia or the Colombo Process aims to provide a forum for Asian labor-sending countries to (…) Share experiences, lessons learned and best practices on overseas employment and contractual labor; Consult on issues faced by overseas workers, and labor sending and receiving states, and offers practical solutions for the well-being of overseas workers, particularly the vulnerable overseas workers; Optimize development benefits from organized overseas employment, and enhance dialogue with countries of destination; and review and monitor the implementation of the ministerial recommendations and identify further steps for action” (IOM, 2003)
- “(…) SAARC countries, including Sri Lanka, have been in a search to find broader regional groupings that are capable of meeting particularly their economic objectives in a sustainable manner. These have included joining organizations such as the BIMSTEC and the IORA. Sri Lanka has most recently sought membership of the Regional Comprehensive Economic Partnership (RCEP)” (Colombopage quoted in Ariyasinha, 2023). There are increasing calls that Sri Lanka seeks the membership of the BRICS – the group of emerging economies (Ariyasinha, 2023).
- “(…) comparing debt service payments to core social spending (covering expenditure on education, health and social protection). In upper middle income countries, just under half of the amount of social spending was spent on debt service, but in lower middle income countries (where such spending is all the more required) the debt service payments were more than social spending. Shockingly, in the low income countries, debt service payments came to 171 per cent of social spending! These are not just the poorest countries, with significant proportions of absolutely hungry people, but also the most climate-vulnerable countries, which are already experiencing a range of climate-related shocks that affect ordinary people” (Gosh, 2023).
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