Millions of Sri Lankans are voting in a close presidential election to address the country’s fragile economic recovery after a severe financial crisis in 2022. The leading candidates are President Ranil Wickremesinghe, opposition leader Sajith Premadasa, and Anura Kumara Dissanayake. Polling booths are well-organized, and voting is proceeding peacefully across the island nation. The election is seen as a referendum on the unpopular IMF austerity plan imposed after the financial crisis. The winner must continue with the IMF program until 2027 to stabilize the economy, attract investors, and lift millions out of poverty.
The election is the first since the economic crisis in 2022, which saw widespread protests and the resignation of then-President Gotabaya Rajapaksa. Although the economy has shown signs of recovery, the high cost of living remains a major concern for voters. Inflation has improved, and the economy is expected to grow in 2024 for the first time in three years. However, many are still struggling with poverty and debt, hoping for a better future under the new leadership.
The election commission has set up over 13,000 polling stations and deployed 250,000 public officials to manage the voting process. The winner will need to reassure markets, attract investors, and guide the country towards a stable growth path. The voting system allows citizens to cast three preferential votes, and if no candidate secures 50% in the first count, there will be a second round between the top two candidates. The outcome of the election is expected to have a significant impact on the future of Sri Lanka.
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