Srilanka, Sept. 9 -- The Cabinet's announcement of 24 August carried more than an administrative decision. Read carefully, it has the power to become the turning point of Sri Lanka's economy, if what it promises is built into the Centre from the start.
What the Centre is for
The Cabinet decision of 24 August creates a Centre under the Presidential Secretariat to coordinate State agencies, remove administrative barriers and improve policymaking for industry. Those are its functions. Its purpose is something the paper does not need to spell out: a Sri Lanka that earns its way forward instead of borrowing its way forward. Heavy dollar repayments begin in 2028, and only foreign exchange that the country earns or keeps can meet them. Every que...