Sri Lanka's Crucial Presidential Race Amid Economic Recovery

Sri Lanka is holding its first presidential election since the 2022 economic meltdown. President Ranil Wickremesinghe seeks re-election, competing against 37 others. Over 17 million voters will decide if the country continues its road to economic recovery. The election includes a preferential voting system, which could lead to a second round of counting.

Millions of Sri Lankans are heading to the polls on Saturday in a pivotal presidential election—the first major vote since the 2022 economic collapse. The election serves as a critical test for President Ranil Wickremesinghe, credited with steering the country towards recovery.

With 38 candidates vying for the presidency, this election is considered the most fiercely contested since 1982. Approximately 17 million eligible voters will cast their ballots at over 13,400 polling stations, with the assistance of 200,000 officials and security by 63,000 police personnel. Voting commenced at 7 AM and will continue until 4 PM, with results expected by Sunday.

Wickremesinghe, 75, runs as an independent candidate, leveraging his success in alleviating the economic crisis. Under his leadership, the rupee has stabilized, inflation decreased to nearly zero from over 70%, economic growth turned positive, and government revenue surged due to new taxes and VAT increases.

The race also features strong contenders like Anura Kumara Dissanayake of the National People's Power (NPP) and Sajith Premadasa of the Samagi Jana Balawegaya (SJB). Both competitors advocate modifying the IMF bailout to provide more economic relief. The election could potentially proceed to a second round of counting if no candidate achieves more than 50% of votes in the first preference round.

(With inputs from agencies.)