Sri Lanka (Commonwealth Union) Sri Lanka stands at a critical juncture as voters prepare to cast their ballots in a tightly contested presidential election on Saturday. This election is not merely a political event, as it is pivotal for the country’s fragile economic recovery, which has been under the stewardship of incumbent president Ranil Wickremesinghe. Furthermore, Wickremesinghe faces a formidable challenge from left-leaning rivals Sajith Premadasa and Anura Kumara Dissanayake, each vying for the opportunity to lead a nation grappling with the aftermath of a severe economic crisis.
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The roots of this crisis can be traced back to 2022, when Sri Lanka’s economy collapsed due to a dire shortage of foreign currency. As a result, the nation has experienced staggering inflation rates, peaking at 70%. Additionally, the burdens of a weakened currency and soaring power tariffs, which increased by 65%, have further exacerbated the struggles of millions of Sri Lankans. Although recent reports indicate a cooling of inflation to 0.5% and the prospect of GDP growth for the first time in three years, many citizens remain trapped in poverty and debt. For them, the upcoming election represents a beacon of hope for a more prosperous future.
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The political landscape leading up to the election reveals a close race. Wickremesinghe, now running as an independent, finds himself in third place according to the Sri Lanka Opinion Tracker Survey conducted by the Institute for Health Policy (IHP). Dissanayake leads the pack, while Premadasa, representing the centrist Samagi Jana Balawegaya (SJB) party, is positioned as a strong contender in second place. Both Premadasa and Dissanayake have expressed intentions to revise taxes and public spending associated with the International Monetary Fund (IMF) bailout program. Dissanayake has notably proposed a homegrown strategy for debt restructuring, appealing to voters seeking innovative solutions to the country’s fiscal challenges.
The significance of this election cannot be overstated, as it marks the first national vote since widespread protests in 2022 compelled then-president Gotabaya Rajapaksa to flee the country and resign. Out of Sri Lanka’s 22 million citizens, approximately 17 million are eligible to vote, underscoring the public’s desire for change in governance. Furthermore, Wickremesinghe, a seasoned politician who was appointed by parliament to complete Rajapaksa’s term, has navigated a precarious recovery, largely supported by a $2.9 billion IMF bailout and a comprehensive $25 billion debt restructuring initiative. His tenure has been marked by efforts to stabilize the economy, yet the efficacy of these measures remains a topic of debate among voters.
Under Sri Lanka’s first-past-the-post electoral system, each voter is permitted to cast three preferential votes for their preferred candidates. A candidate must secure more than 50% of the valid votes to be declared the winner. If no candidate achieves this majority, a systematic elimination process is employed, as outlined in Article 94(1)(b) of the Constitution. Voters who supported eliminated candidates may have their second or third preferences counted for the remaining candidates, ensuring that every vote retains its significance. As the election approaches, organizations such as the Lawyers’ Collective have called on voters to prioritize democratic governance, the rule of law, and an independent judiciary when making their choices. This emphasis on ethical governance resonates with a populace eager for accountability and reform.
For voters, the guidelines are straightforward: they can indicate their preferred candidate by marking an “X” or “1” next to the candidate’s name, with the option to designate second and third preferences as well. This system is designed to allow voters to express their choices flexibly, ensuring that their voices are heard in a multi-candidate field. On election day, polling will take place in thousands of stations across the country, with tight security measures in place to ensure a peaceful process. Voting is scheduled to begin at 7 AM local time and conclude at 4 PM, with the counting of ballots set to commence shortly thereafter. The election results are anticipated to be released on Sunday, and a new president will be sworn in soon after.
The incoming president will face a daunting task as they must restore fiscal stability, initiate repayments to foreign creditors, attract vital investment, and ensure the successful completion of the four-year IMF program. The Election Commission will officially announce the winner, who will then take the presidential oath and appoint a new cabinet, setting the course for the nation’s future. As Sri Lankans prepare to exercise their democratic right, the weight of their decision looms large. The outcome of this election will not only shape the political landscape but also influence the trajectory of a country striving for economic recovery and social stability. The eyes of the nation are fixed on the polls, and the will of the people will soon be revealed.
