Gamani Corea Foundation (GCF) was set up by the late Dr Gamani Corea on February 10, 2000, as a foundation to take further his passion for development globally, with particular emphasis on Sri Lanka. The GCF is an autonomous non-profit institute that aims to promote development-related economic research, while being open to research from other social sciences, especially from a multi-disciplinary perspective.

Its mission is to contribute to the socio-economic development of Sri Lanka and other low-income and middle-income countries through informed, independent and high-quality research. GCF perceives research as being more than a mere academic exercise; it is primarily a catalyst for the tangible socio-economic transformation of countries and societies.

The Gamani Corea Foundation (GCF) hosted a seminar on New Perspectives for Economic Development on January 30, 2025, at the Lighthouse Auditorium, bringing together academics, policymakers, and professionals to discuss Sri Lanka’s economic challenges and opportunities. The seminar was based on the GCF publication New Perspectives for Economic Development, which compiles memorial and public lectures delivered by renowned economists and development experts. Key speakers included Prof. Sirimevan Colombage (overview of the book), Dr. Indrajith Coomaraswamy (macroeconomic policy reforms), Dr. Harsha Aturupane (higher education and economic development), Dr. Lloyd Fernando (good governance), and Dr. Sarath Rajapatirana (balancing imports and exports for sustainable growth). The event concluded with a Q&A session moderated by Mr. Ravinatha P. Aryasinha, fostering a dynamic discussion on economic policy reforms and governance. The seminar attracted participants from academia, government, and the private sector. The book is available to purchase at Gamani Corea Foundation.

A session was dedicated to reflecting on the legacy of Dr. Gamani Corea during the Festival of Ideas, an event organized by the Bandaranaike Center for International Studies (BCIS) in celebration of its golden jubilee. Held on November 22, 2024, at Kolamba Kamatha, BMICH, the session featured two esteemed Directors of the GCF Board: Dr. Indrajith Coomaraswamy (former Governor of the Central Bank of Sri Lanka) and Dr. Dushni Weerakon (Executive Director of the Institute of Policy Studies) as panelists.The discussion highlighted Dr. Corea’s invaluable contributions to the Global South, his pivotal role in debt restructuring, and his advocacy for alternatives to the international economic order.

On October 16th, 2024, the Gamani Corea Foundation hosted a thought-provoking guest lecture at the Lighthouse Auditorium titled “Debt Overhang, Adjustment and Recovery: Sri Lanka’s Prospects for Growth and Development.” The lecture was delivered by Prof. Premachandra Athukorala, Emeritus Professor of Economics at the Australian National University. During his presentation, Prof. Athukorala provided an in-depth analysis of Sri Lanka’s current debt crisis, identifying the key causes and challenges that have contributed to the country’s economic collapse. He emphasized the importance of adopting timely and strategic policy reforms aimed at economic adjustment and sustainable recovery. The lecture attracted a distinguished audience comprising professionals from both the public and private sectors.