Marxist-leaning Anura Kumara Dissanayake and opposition leader Sajith Premadasa are headed to a run-off for the Sri Lankan presidency after neither candidate received the mandatory 50% of votes in the recent election. Incumbent President Ranil Wickremesinghe has been disqualified, with Dissanayake polling 39.5% and Premadasa finishing second at 34%. This election comes on the heels of the country’s economic crisis in 2022, which led to protests and the resignation of then-President Gotabaya Rajapaksa.
Dissanayake has campaigned on promises of change, aiming to dissolve parliament and seek a fresh mandate for his policies, including plans to slash taxes and rework the country’s $25 billion debt. He has also pledged to consult with the IMF on any proposed changes. Premadasa has also promised to renegotiate the IMF deal, focusing on tax changes to reduce living costs.
Sri Lanka’s economy is showing signs of tentative recovery, with growth expected this year for the first time in three years. However, high living costs and widespread poverty remain critical issues for voters. Both candidates have promised to address these challenges and steer the country towards stable growth, attract investors, and lift millions out of poverty.
Overall, this election reflects a desire for change and a rejection of the status quo. Dissanayake’s Marxist-leaning policies have resonated with many voters, while Premadasa has garnered support from farming communities with his promises of tax changes. The next president will have the daunting task of navigating the country through economic recovery and delivering on campaign promises to improve the lives of the Sri Lankan people.
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