News and Events

The Department of Social Studies of the Open University of Sri Lanka (OUSL), in collaboration with the Gamani Corea Foundation (GCF), hosted a symposium titled “Beyond the Crisis: Reforming Macroeconomic Policies in Sri Lanka” on Thursday, April 11, 2025. The event was held at the Faculty Board Room of the Faculty of Humanities and Social Sciences, OUSL, Nawala. The symposium centered around the recently published book by Prof. Sirimevan Colombage, “Reforming Macroeconomic Policies for Stability and Growth. Prof. Colombage delivered the keynote address, drawing on key arguments and proposals from his book, emphasizing the urgent need for comprehensive macroeconomic reforms in Sri Lanka. A vibrant panel discussion followed, moderated by Dr. Aturupane, with contributions from Prof. Sirimal Abeyratne, Dr. Roshan Perera, and Dr. R.H.S. Samaratunga. The session concluded with a Q&A segment, moderated by Prof. Neavis Morais. This symposium brought together scholars, policymakers, and practitioners to reflect on Sri Lanka’s economic challenges and explore pathways for sustainable reform beyond the current crisis.

The Freda Corea Awards 2024, held for the second successive year, on April 4th, 2025, at Jasmine Hall BMICH, was a significant event that highlighted the contributions of Sri Lankan women towards family empowerment and national development. Organized by the Gamani Corea Foundation (GCF), the awards celebrated women from low and middle-income backgrounds who have overcome challenges to uplift their families and contribute to the economic growth of Sri Lanka. The competition focused on story writers who showcased the success stories of these women entrepreneurs. Writers were tasked with identifying individuals whose perseverance and achievements in overcoming socio-economic barriers could inspire others. The awards were inclusive, accepting entries in English, Sinhala, and Tamil, ensuring equal opportunity for all Sri Lankan citizens, regardless of age or other factors. In 2024, the competition recognized 18 remarkable women from 3 categories (Entrepreneurship, Family Emancipation & Outstanding Achievements) whose stories were brought to the public’s attention by writers from across the island. The event was graced by Ms. Wanda Kotalawala, the Chief Guest, and Ms. Sriyani Hulugalle, the Guest of Honour, making it an even more prestigious occasion.

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 will be available to purchase at Gamani Corea Foundation.

Dr. Lloyd Fernando, Chairperson Emeritus of the GCF, presenting the autobiography of  Deshamanya  Dr. Godfrey Gunatillake, at a ceremony at the GCF Headquarters on January 7, 2025.  Dr. Gunatilleke is at present Chairman Emeritus and Senior Advisor of the Marga Institute, and a Chairman Emeritus of the GCF.  Also present were the GCF’s Board of Directors and Staff.

The book launch of “Development and Planning," authored by Mr. W.M. Leelasena and Professor K.A.S. Wickrama, took place at the National Library Auditorium on December 21, 2024. The launch was co-sponsored by the Gamani Corea Foundation.

By introducing the book, the main author, Mr. Leelasena, mentioned that his experience during the past fifty years, as a rural and regional planner, implementer, and provider of assistance for such development activities, he has observed that the planning processes in both the public and private sectors are at a weaker level. He emphasized that if these were improved, the outcomes of development could be significantly greater. Therefore, the purpose of this book is to contribute to the enhancement of the knowledge and skills of practitioners in both sectors.

Addressing the gathering, Mr. S. Amarasekera mentioned that the authors vividly explain the concepts of development and their evolution in the context of Sri Lanka. He stated that the book provides guidance to regional planners to apply the planning tools in a scientific manner.

Emeritus Professor Sirimevan Colombage in his speech emphasized that it is essential for an economy like Sri Lanka’s to be guided by indicative planning that supports private entrepreneurs rather than a centralized planning system. To rescue the country from the current economic crisis, it is crucial to reintroduce macro-level indicative planning and integrate it with regional planning, which is clearly stated in this new book, Professor Colombage emphasized.

This book is available for purchase at the ‘Sarasavi’ bookstores.

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.

The book ‘Catalyzing Good Governance Through National Media’ authored by Senior Journalist/Media Specialist Shiranee Dissanayake was launched on 7 November 2024 at 4.00 p.m. at the Lighthouse Auditorium, Lakshman Kadirgamar Institute 24, Horton Place Colombo 7. The first copy of the book was presented to the Guest of Honour, Dr. Senesh Dissanayake Bandara, Chairman, Sri Lanka Rupavahini Corporation. The event was graced by Dr. Lloyd Fernando, Chairman Gamani Corea Foundation, Dr. Harsha Aturupane, Deputy Chairman, Gamani Corea Foundation, Ravinatha Ariyasinha Director, Gamani Corea Foundation and M.J.R. David, Director, Emergent Works UK, who addressed the gathering, and members of the Diplomatic Corps, professionals, academics, media personnel. The book is available for sale at the Gamani Corea Foundation and Sarasavi Book Shop. 

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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.

The Inaugural Grant Awarding Ceremony of the Gamani Corea Foundation for 2024-25 took place on the 19th of September 2024 at the BMICH. A total of 16 grants consisting of 13 team grants and 3 individual grants were awarded at the ceremony. These grants are expected to support in-depth evidence-based research on Sri Lanka’s most pressing socio-economic challenges. At the ceremony, key speakers, including Dr. Lloyd Fernando, Dr. Indrajit Coomaraswamy, Prof. Sirimevan Colombage, and Dr. Harsha Aturupane, emphasized the importance of evidence-based research in addressing Sri Lanka’s economic challenges in the context of the current economic crisis. We extend our heartfelt congratulations to all the grant recipients, whose research holds the potential to influence positive change across socioeconomic landscape of Sri Lanka. 

On the 5th of September 2024, the Gamani Corea Foundation (GCF) proudly launched its first monograph under the SLFI, titled “Reforming Macroeconomic Policies for Stability and Growth: Sri Lanka’s Road to Economic Recovery" by Prof. Sirimevan Colombage, Emeritus Professor of the Open University of Sri Lanka. The publication, based on a policy issues paper contributed to SLIF, critically examines the macroeconomic policy failures that led to Sri Lanka’s current economic crisis and highlights the necessary strategies for ensuring stability and growth for a sustainable recovery. The event was graced by Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as the Chief Guest, with Dr. Sarath Rajapatirana serving as the Guest Speaker.

On the 4th of September 2024, the Gamani Corea Foundation (GCF) had the distinct honor of receiving Deshamanya Dr. Godfrey Gunatillake, Chairperson Emeritus of the Foundation. At 98 years old, Dr. Gunatillake’s remarkable legacy spans decades of contributions to Sri Lanka’s socio-economic and intellectual development. His career has seen collaborations with many key figures, including Hon. D.S. Senanayake, the first Prime Minister of Ceylon. The Board of Directors and staff were privileged to engage with Dr. Gunatillake during his visit, which was an inspiring reminder of his enduring commitment to the Foundation and its mission of equitable development in Sri Lanka.