Marxist-leaning Anura Kumara Dissanayake and opposition leader Sajith Premadasa are heading to a run-off for the presidency in Sri Lanka after failing to secure 50% of the votes. This is the first time in the country’s history that a second round of counting will determine the winner. Incumbent President Ranil Wickremesinghe has been disqualified along with all other candidates. Dissanayake received 39.5% of the votes while Premadasa got 34%.
The election comes after the country faced economic turmoil in 2022 due to a severe foreign exchange shortage. The protests led to the resignation of then-President Gotabaya Rajapaksa. Dissanayake, who has presented himself as a candidate for change, has proposed policies that focus on reducing austerity measures and renegotiating a $2.9 billion IMF bailout. Premadasa has also pledged to renegotiate the IMF deal and make tax changes to reduce living costs.
Sri Lanka’s economy, supported by the IMF deal, has shown signs of recovery with expected growth this year and a decrease in inflation. However, high living costs and poverty remain pressing issues for voters. Voting was peaceful with a high turnout, and both Dissanayake’s Marxist-leaning alliance and Premadasa’s centre-left party have garnered support from different segments of the population.
The winner will need to stick with the IMF program, reassure markets, repay debt, attract investors, and address poverty to put Sri Lanka on a stable growth path. The election reflects the desire for change and a better future for the nation.
Photo credit
www.nbcnews.com