Sri Lankans vote with issues of welfare, economic reforms at stake
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Marxist-leaning National People's Power party leader Anura Kumara Dissanayake, 55, was elected president in September but his NPP coalition had just three of 225 seats in parliament.
PHOTO: REUTERS
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COLOMBO - Sri Lanka began voting in a snap election on Nov 14 which will determine if the island nation wants to empower its new, leftist President Anura Kumara Dissanayake to push his pro-poor policies as it recovers from a financial meltdown.
A little over 17 million Sri Lankans are eligible to elect lawmakers to the 225-member Parliament for a five-year term.
A record 690 political parties and independent groups are in the fray across 22 electoral districts.
“I think we are seeing the first signs of a positive political change in Sri Lanka after the president was elected and we should give him the chance to continue that change,” said Ms Umeshi Perera, 32, who queued to vote in a Colombo suburb.
The president, Marxist-leaning Anura Kumara Dissanayake, 55, was elected president in September but his National People's Power (NPP) coalition had just three of 225 seats in Parliament, prompting him to dissolve the legislature almost a year before its term ended and seek a fresh mandate.
Voting was proceeding smoothly, a police spokesman said, after more than 7,000 officers fanned out to more than 13,400 polling stations nationwide to keep the polls free and fair.
“The military is also on standby to assist the police, but we do not expect any incidents,” the spokesman, Mr Nihal Thalduwa, said.
People trickled into temples, schools and other public buildings being used as polling stations.
Votes will be counted soon after polling closes on Nov 14, with results set for Nov 15.
Analysts say Mr Dissanayake’s coalition is expected to draw significant support, while a victory for a rival could lead to a policy logjam the country cannot afford.
A political outsider in a country dominated by family parties for decades, Mr Dissanayake backs policies to fight poverty, such as bigger welfare schemes, as well as battle graft.
Sri Lanka typically backs its president in general elections, especially if they are held in quick succession.
The president wields executive power but Mr Dissanayake still requires a parliamentary majority to appoint a fully-fledged Cabinet and deliver on key election promises to cut taxes, support local businesses, and fight poverty.
“This election is critical as it is a test for the NPP to get the numbers needed for the IMF package and to take forward promised governance, constitutional and economic reforms,” said Ms Bhavani Fonseka, a researcher at Colombo’s Centre for Policy Alternatives.
The main challenger to Mr Dissanyake’s coalition is the Samagi Jana Balawegaya party of opposition leader Sajith Premadasa, who favours a mix of interventionist and free-market economic policies.
The other key contender is the New Democratic Front, backed by previous President Ranil Wickremesinghe.
A country of 22 million people just across the southern tip of India, Sri Lanka was crushed by a 2022 economic crisis triggered by a severe shortfall of foreign currency, causing the economy to shrink by 7.3 per cent in 2022 and 2.3 per cent in 2023.
Boosted by a US$2.9 billion (S$3.9 billion) bailout programme from the International Monetary Fund (IMF), the economy has begun a tentative recovery, but the high cost of living is still a critical issue for many voters, especially the poor.
However, the country’s stocks and bonds have rallied sharply since the September presidential elections, with the MSCI’s Sri Lanka’s equity index having rallied some 35 per cent and the defaulted 2030 sovereign dollar bond up 20 per cent since then.
Mr Dissanayake also aims to tweak targets set under the IMF programme to reduce high income taxes and free up funds to invest in welfare for millions hit hardest the crisis.
But investors worry Mr Dissanayake's desire to revisit the terms of the IMF bailout could delay future disbursements, and make it harder for Sri Lanka to hit a key primary surplus target of 2.3 per cent of GDP in 2025 set by the IMF.
“In past elections, people did not have confidence in us but in September people gave us victory and proved that we are a winning party and we can form a government,” Mr Dissanayake said on Nov 10 as the campaign neared its conclusion.
“The next task is to unite people from the four corners of this country and build a powerful people’s movement,” he said. REUTERS
