A man waves the national flag of Sri Lanka after climbing a tower near the Presidential Secretariat in Colombo on July 11, 2022, after it was overrun by anti-government protesters. (Photo: Arun Sankar/AFP via Getty Images)
Arun Sankar | AFP | Getty Images
Sri Lanka's Marxist-leaning leader Anura Kumara Dissanayake made a big lead in snap elections on Sunday in his bid to become the next president of the debt-ridden country, which is seeking a leader to shore up its fragile economic recovery.
Data from Sri Lanka's Election Commission showed Dissanayake won about 53 percent of the one million votes counted so far in the election. Opposition leader Sajith Premadasa came in second with 22 percent, ahead of President Ranil Wickremesinghe in third.
About 75 percent of the Indian Ocean nation's 17 million eligible voters cast ballots in Saturday's election, according to the election commission.
Dissanayake ran as a candidate for the National People's Power Alliance, which includes his Marxist-leaning Janata Vimukthi Perimuna (JVP) party, which has traditionally supported stronger state intervention, lower taxes and more closed market economic policies.
Although the TPLF has only three seats in parliament, the 55-year-old Dissanayake has gained a morale boost with promises to crack down on corruption and implement more pro-poor policies.
He presented himself as a candidate of change, promising to dissolve parliament within 45 days of coming to power in order to seek a new mandate for his policies in the general election.
Foreign Minister Ali Sabri said in a statement to Extra News Channel: “After a long and arduous election campaign, the election results are now clear.”
“Although I have made great efforts to support President Ranil Wickremesinghe, the people of Sri Lanka have made their decision, and I fully respect their mandate to Anura Kumara Dissanayake.”
This was Sri Lanka's first election since the economy collapsed in 2022 due to a severe shortage of foreign exchange, leaving the country unable to pay for imports of essentials including fuel, medicine and cooking gas.
In 2022, thousands of protesters marched in Colombo and occupied the president’s office and residence, forcing then-President Gotabaya Rajapaksa to flee and later resign. The economy enjoyed a temporary recovery thanks to a $2.9 billion bailout from the International Monetary Fund, but rising living costs remained a major issue for many voters.
Although inflation slowed to 0.5% last month from a crisis-high of 70%, and the economy is expected to grow in 2024 for the first time in three years, millions remain mired in poverty, with many pinning their hopes for a better future on the next leader.
The winner will have to ensure Sri Lanka sticks to an IMF programme through 2027 to put its economy on a stable growth path, reassure markets, pay down debt, attract investors and help a quarter of its people lift themselves out of poverty.
In his election manifesto, Dissanayake, known for his ability to deliver powerful speeches, pledged to cut taxes that would affect fiscal targets, raising concerns among investors and market participants about his economic policies.
However, during his election speeches, he took a more conciliatory approach, saying that any changes would be made in consultation with the IMF, and that he was committed to ensuring debt repayment.
