Sri Lanka is currently immersed in the voting process to elect its next president, effectively serving as a referendum on the unpopular International Monetary Fund austerity plan that was implemented following a financial crisis. President Ranil Wickremesinghe is seeking re-election to continue the economic stabilisation measures that have resolved previous shortages and unrest in the nation.
Despite restoring calm after civil unrest in 2022, Wickremesinghe faces challenges due to austerity measures resulting from a $2.9 billion IMF bailout, which have left many struggling financially. Two strong opponents, Anura Kumara Dissanayaka and Sajith Premadasa, are posed to give him a tough race.
More than 17 million eligible voters in Sri Lanka are participating in the election, with tight security in place at polling booths. The outcome is eagerly anticipated, with economic issues dominating the campaign amidst concerns over the nation’s vulnerabilities.
While progress has been made in the country’s economy, according to the IMF, the future remains uncertain. The election results on Sunday will shape the path forward for Sri Lanka’s economic and political landscape.