Marxist-leaning Anura Kumara Dissanayake and opposition leader Sajith Premadasa are headed to a run-off for Sri Lanka’s presidency after failing to secure 50% of the votes in the initial round. President Ranil Wickremesinghe was disqualified as all remaining candidates were eliminated. Dissanayake received 39.5% of the votes, while Premadasa got 34% in the first round. This marks the first time in Sri Lanka’s history that a presidential race will be decided by a second round of counting.
The election comes as Sri Lanka continues to grapple with economic challenges, including a severe foreign exchange shortage, leading to protests and the resignation of former President Gotabaya Rajapaksa in 2022. Dissanayake presented himself as the candidate of change, promising to dissolve parliament within 45 days of taking office and renegotiate the IMF bailout deal. Premadasa also pledged to renegotiate the IMF deal and reduce living costs through tax changes.
The winner of the run-off will need to navigate the IMF program until 2027 to stabilize the economy, attract investors, and lift a quarter of the population out of poverty. Voting was peaceful, with a high turnout of 75% of eligible voters. Dissanayake, known for his anti-corruption measures and pro-poor policies, faced off against Premadasa, who gained support from farming communities and has experience from the 2019 presidential election. The outcome of the run-off election will have significant implications for Sri Lanka’s economic future and the well-being of its population.
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