Sri Lanka holds its first presidential election since the country declared bankruptcy

DATE OF ELECTION
Likely in November

TYPE OF ELECTION
Presidential

WHO’S RUNNING
Incumbent President Ranil Wickremesinghe could run, seeking a mandate for his tough economic reforms, as the country strives to recover from its worst economic crisis in recent history. Wickremesinghe was elected through a Parliament vote after his predecessor resigned and is somewhat unpopular because of his austerity measures. Opposition figures such as Sajith Premadasa and Anura Kumara Dissanayake are likely to be the serious candidates.

WHY IT MATTERS TO THE WORLD
The election will be the first held after Sri Lanka was roiled by a severe economic crisis in 2022. The country declared bankruptcy amid a severe shortage of food, fuel and other necessities, triggering protests that caused the-then President Gotabaya Rajapaksa to flee and resign. The election also comes amid an IMF recovery program that kicked in last year, which opposition members have been critical of due to heavy taxes and privatization plans to meet targets. Thus, the polls will likely be seen as a referendum on Wickremesinghe, a career politician who has sought to be the face of a recovering Sri Lanka. Countries such as India and China, which provided assistance and loans to the country, will be closely watching the polls as will Sri Lanka’s bilateral and private lenders.