In conversation with Dr. Indrajit Coomaraswamy on Sri Lanka’s post-war economic development
Dr. Indrajit Coomaraswamy is a Former Director, Economic Affairs Division at the Commonwealth Secretariat. Indrajit was also a staff officer at the Central Bank of Sri Lanka. As Wikipedia notes, From 1981 t 1989 he was seconded to the Ministry of Finance and Planning. Thereafter he worked for the Commonwealth Secretariat from 1990–2008, holding the posts of Director, Economic Affairs Division and Deputy-Director, Secretary-General’s Office and was brought back to the Commonwealth Secretariat to head the Social Transformation Programme Division, as Interim Director.
Given Indrajit’s sporting background, we began by talking about his achievements in rugger and cricket at the University of Peradeniya in the early 70s and afterwards at Cambridge University, which to this day he said irked his mother who was of the opinion that he had spent far too much of time playing sport and far too little studying! I then asked Indrajit, an economist by training, about the global financial crisis and how, at the time, no one could really explain it, much less predict it but now, how many say they saw it coming.
We then talked about the role and relevance of the Commonwealth Secretariat before I asked him a crucial question pegged to what Prof. Sumanasiri Liyanage – also an economist and political analyst – told me a few weeks ago, that there was absolutely no correlation between development and democracy. My follow-up question was on how corruption influenced development. Indrajit’s informed responses to both are extremely revealing.
Our conversation then focussed on the nature of post-war economic development in Sri Lanka, and whether it would be urban centres like Colombo in the Western Province, or a more decentralised, regional blueprint anchored to local entrepreneurship that would drive growth.
To the question as to whether he was optimistic about economic development post-war, Indrajit’s response was one of great optimism, noting that he sees massive potential and “arguably… the most propitious set of circumstances since 1958′. He also looked at macro-economic policies Sri Lanka should be concentrating on, with a strong regional focus.
The conversation ended with the observation that though Indrajit went to the wrong school, he perhaps left early enough to turn out alright!
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Sanjana’s interview with Dr. Coomaraswamy is illuminating with respect to his analysis of development in the least developed and Asian countries. At the end of the interview, Sanjana posed a question about the golden opportunity SL has now for development and whether SL will grasp it or will it also be another lost “golden opportunity”.
Dr. C did say that this is the best opportunity since 1958 and then moved on to Economic Geography, Asia and South East Asia and India.
I was expecting Dr. C. to analyse post-war economic development in the context of a continuing conflict (though the war is over) in Sri Lanka. Should we wait till a solution is found to resolve the conflict before development which may under the current policies result in yet another “golder opportunity, or start development and hope the conflict will resolve itself? Is there a relationship between development and resolution of decades long conflict? If development is pursued without the resolution of the conflict, will such development escalate the conflict?
I hope Sanjana could get Dr. C to share his ideas on the issues of post-war development as opposed to post-conflict development and their consequences.
DrC is correctlyanalysed thesituation; today we have even the cheif arms procurer KP is gladly lending a hand to rebuild.
I would say the looking for the rate f Economic growth rate alone would not be the answer though that is an important indicator, as we know well how the books are cooked from the confessions of few retired world bank economists, CIA agents etc.
It is correct that to achieve stable growth each region must reach the critical mass not depending on Agriculture alone. That is essential for double digit growth, for example you see peasant farmers in China only rarely, today. Even in all provincial cities people have moved to multi story blocks often of 10 or more storeys in height and that have made another industry out of intensive agriculture for vegetables, flowers etc..
THis is a task where each sector has to shoulder the weight. New entrepreneurs are needed particularly from diaspora to build, fund, operate power stations, ports, airports, universities, schools, technical colleges libraries and the commitment from all sectors and old public sector dependence would not be sufficient for seedcorn.
May I add that it is not likely that the North and the East will stay for ever under the umbrella of old leaders now coming under the guise of TNA.