The citizens Sri Lanka are voting for a new president in the first election since mass protests in 2022. These protests were triggered by the country’s worst economic crisis, which led to the ousting of former president Gotabaya Rajapaksa.
This election is seen as a crucial moment for the country, which is still recovering from a financial meltdown that left many struggling to make ends meet.
A Referendum on Economic Reforms
The presidential election is largely viewed as a referendum on the economic reforms aimed at restoring stability. President Ranil Wickremesinghe, who took over after Rajapaksa was removed, is seeking another term. Wickremesinghe, 75, inherited the difficult task of steering Sri Lanka out of its economic collapse.
Since taking office, he has introduced tough measures such as tax hikes and cuts to subsidies and welfare programs. While these reforms have reduced inflation and strengthened the rupee, many citizens still feel the sting of the crisis. Prices for basic goods remain high, and jobs are scarce.
Economic Hardships Persist in Sri Lanka
Despite signs of economic improvement, many Sri Lankans are still struggling. The rising cost of living has made everyday life difficult for ordinary citizens. Yeshan Jayalath, a 32-year-old with an accounting degree, said he has been unable to find a permanent job and has resorted to part-time work.
Small businesses are also facing hardships. Norbet Fernando, who owned a roof tile factory, was forced to close down in 2022 due to skyrocketing costs of materials. His business is one of many that have not recovered since the crisis.
Data from the central bank shows that demand for goods and services has slowly improved in 2024. However, the situation is still far from pre-crisis levels. While inflation has fallen, many people remain unconvinced that the economic reforms are worth the sacrifice.
The Key Candidates
The presidential race has attracted more candidates than ever before, but four names stand out.
– Wickremesinghe: After two failed attempts at the presidency, Wickremesinghe hopes to finally be elected by the people, not just the parliament.
– Anura Kumara Dissanayake: A leftist politician from the National People’s Party, Dissanayake has built his campaign on anti-corruption promises and good governance.
– Sajith Premadas: The opposition leader represents the Samagi Jana Balawegaya party. He comes from a political family, as his father served as Sri Lanka’s president until his assassination in 1993.
– Namal Rajapaksa: The 38-year-old nephew of the ousted president, Namal represents the Rajapaksa political dynasty. His family is largely blamed for the economic collapse, and he faces an uphill battle to gain public trust.
A Close and Uncertain Race
This year’s election is shaping up to be one of the closest in Sri Lankan history. Many analysts predict that economic concerns will dominate voters’ minds. High inflation, a steep cost of living, and rising poverty have left the electorate desperate for solutions.
Voters are expected to rank their top three candidates in order of preference. In the past, elections have never needed a second round of counting, as a single candidate usually wins an absolute majority. However, this year could be different.
Opinion polls suggest that none of the main candidates are likely to secure a majority in the first round. This could lead to a second round of counting, where second and third-choice votes are considered.
What’s Next for Sri Lanka ?
Whoever wins the election will face the enormous challenge of rebuilding Sri Lanka’s economy and restoring trust in its governance. The country’s economic collapse, caused by years of mismanagement, weak exports, and the COVID-19 pandemic, has left deep scars.
Sri Lankans are hopeful that the next president can bring long-term solutions that improve their livelihoods and stabilize prices. For now, the nation watches closely, waiting for the outcome of this pivotal election. Results are expected by Sunday morning, and the world will be watching to see what direction Sri Lanka takes next.