Stock Market

Deeply indebted Sri Lanka votes in election to decide economic future By Reuters

Written by Uditha Jayasinghe and Sudipto Ganguly

MILLIONS of Sri Lankans are voting on Saturday to elect a president who will face the task of strengthening the South Asian country's fragile economy following the dire financial situation that has existed in recent years.

More than 17 million of Sri Lanka's 22 million people are eligible to vote in an election that has created a close contest between President Ranil Wickremesinghe, senior opposition leader Sajith Premadasa and Marxist challenger Anura Kumara Dissanayake, who led the latter. opinion poll.

Well-organized polling booths manned by government and police officials guiding Sri Lankans on how to vote as citizens of Colombo, the country's largest city, lined up after voting began at 7am (0130 GMT).

At Visakha Vidyalaya, a school 15 kilometers from Colombo, voting began early in the morning as families, some accompanied by their elderly parents, lined up along the lines forming orderly lines for voters.

A large explosion of ballot paper was seen at the entrance of the booth set up next to the blooming flower beds and a row of classrooms.

“I think we really need a change and I think many people feel the same way. In order to have a future, the whole country must have a future, first,” said Niroshan Perera, 36, who is a supporter of Dissanayake.

Voting went on peacefully across the island and queues outside polling stations grew as the day wore on, local TV stations reported. Voting closes at 4pm (1030 GMT), with counting scheduled to begin soon. The Electoral Commission is expected to announce the winner on Sunday.

More than 13,000 polling stations have been set up across the country and 250,000 government officials have been deployed to administer the election, RML Rathnayake, head of Sri Lanka's election commission, told Reuters.

This is the first election since Sri Lanka's economy froze in 2022 under a severe shortage of foreign currency, which left the Indian Ocean island nation unable to pay for key imports including fuel, medicine and cooking gas.

Thousands of protesters marched in Colombo in 2022 and occupied the presidential office and residence, forcing then-President Gotabaya Rajapaksa to flee and later resign.

Bolstered by a $2.9 billion bailout from the International Monetary Fund, Sri Lanka's economy has shown signs of recovery but the high cost of living remains an issue for many voters.

Although inflation fell to 0.5% last month from a crisis high of 70%, and the economy is forecast to grow in 2024 for the first time in three years, millions remain in poverty and debt, with many holding out hope for a better future. their next leader.

“This is an election that will change the history of Sri Lanka. People voted with enthusiasm,” Dissanayake said after voting at a temple on the outskirts of Colombo.

The winner will have to ensure that Sri Lanka complies with the IMF's plan until 2027 so that its economy can grow in a sustainable manner, strengthen markets, attract investors and help a quarter of its population out of crisis-induced poverty.

“People must decide the future of this country. I ask everyone to vote peacefully,” said Wickremesinghe, accompanied by his wife, after voting at the University of Colombo. “We have a stable government and a democratic system. I am happy that I was able to play a big part in that.”

Sri Lanka's ranked voting system allows voters to vote for candidates of their choice.

If no candidate wins 50% of the first count, there is a second round between the top two, and the special votes of the other candidates are redistributed, analysts of the results say that a close election is likely to be observed.




Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button