2 weeks Ago
Sri Lankans will vote for a new president in a tightly contested election on Saturday, with the outcome expected to determine the fate of fragile economic recovery led by incumbent Ranil Wickremesinghe who is facing off with left-leaning rivals. The economy, which collapsed in 2022 after a severe shortage of dollars, is one of the key issues for voters, who have struggled with inflation that soared to as much as 70 per cent, a battered currency and power tariffs that jumped 65 per cent. Although inflation cooled to 0.
5 per cent last month and GDP is forecast to grow for the first time this year in three years, millions remain mired in poverty and debt, with many pinning hopes on a better future on their next leader. "With many Sri Lankans still struggling to make ends meet, the presidential election promises to be close, tense, and possibly pivotal in setting the country's future political trajectory," said Alan Keenan, the International Crisis Group's senior consultant for Sri Lanka. The election is shaping to be a close race between Wickremesinghe, opposition leader Sajith Premadasa, and Marxist-leaning politician Anura Kumara Dissanayake.
The Sri Lanka Opinion Tracker Survey by the Institute for Health Policy (IHP) shows Wickremesinghe, running as an independent, at third position. Dissanayake is the leading candidate and Premadasa of the centrist, more Left-leaning Samagi Jana Balawegaya (SJB) party is second. Both Premadasa and Dissanayake have said they may tinker with taxes and public expenses linked to a International Monetary Fund bailout programme.
Dissanayake has also proposed a new homegrown approach to the debt restructuring. Run-off likely About 17 million of Sri Lanka's 22 million people are eligible to vote in the first election since protests against the economic hardships in 2022 forced then president Gotabaya Rajapaksa to flee the country and later resign. "The main criticism of the government is that it has not shown enough sensitivity or empathy towards the pressing problem of debt restructuring and making sure that the burden of that adjustment is not going to fall on the people least able to bear it," said Paikiasothy Saravanamuttu, head of Colombo think tank Centre for Policy Alternatives.
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