In a historic turn, Sri Lanka’s presidential election has entered a second round of counting, as no candidate secured over 50% of the votes in the initial tally.
The election commission is set to tally voters’ second and third presidential choices. During the election process, individuals were instructed to rank up to three candidates according to their preferences.
In the initial round of counting, Anura Kumara Dissanayake, a prominent leftist politician, emerged as the frontrunner based on voters’ primary choice of candidate. Sajith Premadasa, the opposition leader, currently holds the second position.
The complete results from the initial round of counting have yet to be made available to the public.
During a recent press conference, the election commission announced that all candidates except Dissanayake and Premadasa had been eliminated.
Officials will now review the ballots of the eliminated candidates to determine whether secondary or third preferential votes were cast for the two leading contenders.
Sri Lanka’s election laws stipulate that a candidate must secure more than 50% of the votes, plus one additional vote, to be declared the winner.
Saturday’s election marked the inaugural vote following the widespread protests that led to the ousting of the nation’s leader, Gotabaya Rajapaksa, in 2022 amid the country’s most severe economic crisis.
Since 1982, every presidential election in Sri Lanka has resulted in the victor being determined in the initial round of counting. This poll is one of the most competitive in the nation’s history.
On Saturday, seventeen million Sri Lankans were eligible to cast their votes, and the country’s elections commission reported that the event marked the most peaceful election in the nation’s history.
Late Saturday night, police declared a curfew, citing concerns for “public safety.” The operation commenced at noon local time, which corresponds to 06:30 GMT.
Dissanayake pledged to implement stringent anti-corruption measures and promote good governance, a commitment that resonated with voters eager for systematic change in the wake of the ongoing crisis.
Initial results indicated a significant surge to the front, leading to congratulations from several prominent individuals, including the nation’s foreign minister.
Recent data indicates that he needs to catch up with Premadasa.
Incumbent president Ranil Wickremesinghe secured 17% of the vote, placing him third in the election results.
Economic collapse
The country’s newly elected president is set to confront the dual challenges of revitalizing the economy and alleviating the plight of millions living in severe poverty.
The “Aragalaya” uprising, driven by a severe economic crisis, led to Rajapaksa’s ousting from the presidential palace in 2022.
During that period, Sri Lanka faced a severe depletion of its foreign currency reserves, which rendered the nation incapable of importing vital necessities, including fuel. Public debt has surged to $83 billion, with an inflation rate of 70%.
The rising costs have rendered essential items such as food and medicine out of reach for the average citizen.
Significant policy errors, weak exports, and years of under-taxation are the primary factors contributing to the country’s economic struggles. The COVID-19 pandemic significantly worsened the situation, severely impacting tourism, a crucial component of the economy.
Corruption and mismanagement have drawn significant criticism, intensifying public anger directed at Rajapaksa and his family, who have held power in Sri Lanka for over a decade.
Dr. Athulasiri Samarakoon, a political scientist at the Open University of Sri Lanka, emphasized the critical issue of economic restoration during an interview with the BBC Sinhala Service. “The most serious challenge is restoring this economy,” he stated.
Wickremesinghe obtained a $2.9 billion lifeline from the International Monetary Fund (IMF) throughout his tenure. This funding is essential for unlocking further financial resources, though it is contingent upon implementing stringent economic and governance policy reforms.
Sri Lanka is restructuring its debt payment terms with both foreign and domestic lenders, a move that aligns with the requirements set forth by the International Monetary Fund (IMF).
The primary concern centers around the nation’s $36 billion foreign debt, of which $7 billion is owed to China, its largest bilateral creditor.
Dissanayake has committed to enhancing the manufacturing, agriculture, and IT sectors. The individual has pledged to revise tax rates and expand the tax base.
Premadasa has advocated for advancements in information technology and the creation of 25 new industrial zones. It has also stressed the need to bolster tourism, positioning it as a potential leading source of foreign currency for the nation.
During the campaign, Wickremesinghe pledged to double tourist arrivals, establish a national wealth fund, and create new economic zones to boost growth.
