Marxist-leaning Anura Kumara Dissanayake and opposition leader Sajith Premadasa are headed to a run-off for Sri Lanka’s presidency, making it the first time in the country’s history that the race will be decided by a second round of counting. Dissanayake polled 39.5% of the votes, while Premadasa finished second at 34%. Incumbent President Ranil Wickremesinghe trailed in third place.
The election comes after Sri Lanka’s economy faced a crisis in 2022 due to a severe foreign exchange shortage, leading to protests and the resignation of then-President Gotabaya Rajapaksa. Dissanayake, who promised to dissolve parliament for fresh elections and renegotiate the IMF deal if elected, garnered support as the candidate of change.
Premadasa, on the other hand, ran on a platform of tax changes to reduce living costs and drew support from farming communities in north and central Sri Lanka. The winner will need to work towards stabilizing the economy, reassuring markets, attracting investors, and helping millions of people out of poverty.
The election saw a high voter turnout of 75% and was peaceful, with a curfew imposed as a precaution during vote counting. Dissanayake’s party, known for advocating stronger state intervention and more closed-market economic policies, has traditionally supported tough anti-corruption measures. Premadasa, whose father was a former president, finished second in the last presidential election and has promised to renegotiate the terms of the IMF deal if elected.
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