The experience of public policy in Sri Lanka has had a profound impact on the thinking of the global development community in relation to the role of education in economic development. In particular, the example of Sri Lanka helped to persuade policy makers around the world that governments can successfully develop a general education system to enable universal enrolment and completion of primary education, and provide widespread access to secondary education. This paper analyses the historical evolution of the Sri Lankan education system, discusses the policy framework for general education and discusses the performance of the Sri Lankan education system in terms of equity of access and quality. The paper proceeds to discuss the main future educational challenges facing the country. (Contains 10 footnotes, 15 tables, and 11 figures.) [This monograph is a revised version of the Second Annual CREATE lecture organized by the Institute of Education, London and held at the London International Development Centre on November 18th, 2008.]