Marxist-leaning Anura Kumara Dissanayake and opposition leader Sajith Premadasa are heading to a run-off for Sri Lanka’s presidency after failing to reach the required 50% of votes in the initial round. Incumbent President Ranil Wickremesinghe has been disqualified, with Dissanayake polling 39.5% and Premadasa finishing second at 34%. Dissanayake, who has promised change, was supported by those impacted by austerity measures, while Premadasa, whose party promises tax changes, gained support from farming communities. Both candidates have pledged to renegotiate the IMF deal and address grinding poverty in the country.
Sri Lanka’s economy has experienced a tentative recovery, with growth expected this year for the first time in three years. However, high living costs and widespread poverty remain significant issues for voters. Voting was peaceful, but a curfew was imposed as a precaution during vote counting. Dissanayake, known for his strong speeches, leads the National People’s Power alliance, while Premadasa comes from a centre-left party.
The winner of the election will need to stick with the IMF program until 2027 to stabilize the economy, repay debt, attract investors, and help lift a quarter of the population out of poverty. Overall, the election reflects aspirations for different political practices and institutions in Sri Lanka following economic hardships in 2022. Both Dissanayake and Premadasa have promised changes to address the concerns of voters and ensure the country’s economic stability and growth.
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