Sri Lanka to Hold Pivotal Presidential Election on September 21

Sri Lanka will hold its first presidential election since a severe financial crisis on September 21, according to the election commission. The current President, Ranil Wickremesinghe, who assumed office after mass protests forced his predecessor to flee the country, has indicated he plans to run. Wickremesinghe is expected to face at least two opponents who oppose the austerity measures imposed by his government as part of a $2.9 billion International Monetary Fund (IMF) bailout package.

The upcoming election is seen as a crucial test of public confidence in Wickremesinghe's efforts to stabilize the economy, which experienced its worst-ever recession in 2022 with a GDP contraction of 7.8%. The economic downturn led to severe shortages of food, fuel, and medicine, sparking widespread discontent. Although the economy has shown signs of recovery, including a significant drop in inflation from 70% in 2022 to 1.7% in June, opposition parties have pledged to renegotiate the terms of the IMF bailout. Over 17 million Sri Lankans are eligible to vote in the election, with nominations due by August 15.