Sri Lanka holds snap election to elect a new parliament amid economic crisis

Sri Lanka is set to hold a snap general election this week, where voters will choose a new parliament. The election was called by Anura Kumara Dissanayake, the country's new president. 

Dissanayake, who was elected in September, is looking for a fresh mandate to push forward his economic reforms. These reforms aim to tackle the country’s ongoing financial crisis, which has left Sri Lanka struggling with huge debt.

[Image: Sri Lanka's President and National People's Power (NPP) party leader Anura Kumara Dissanayake. Retuers]

Dissanayake, leader of the National People’s Power (NPP) party, won the presidential election by promising change. 

However, his party only has three of the 225 seats in the current parliament. This small number prompted him to dissolve the legislature and call for a new election. Dissanayake hopes to secure more seats so he can implement his economic policies without delay.

The country has been dealing with a major financial crisis since 2022, caused by a shortage of foreign currency and worsened by the COVID-19 pandemic. 

The economic situation led to widespread protests, with many citizens calling for change. In response, Dissanayake promised to fight corruption and help rebuild Sri Lanka’s economy.

Dissanayake’s government has received a $2.9 billion bailout from the International Monetary Fund (IMF) to help recover the economy. 

The country is slowly starting to recover, but the cost of living remains high. Many Sri Lankans are still struggling with the rising prices of everyday goods.

One of Dissanayake's goals is to change the revenue targets set by the IMF, in an effort to reduce income taxes. He plans to free up funds that can be used to support Sri Lankans who were hit hardest by the economic crisis. However, his plan to adjust the IMF’s terms has raised concerns among investors. They worry that this could delay further bailout funds and make it harder for Sri Lanka to meet important targets for economic recovery.

The election will be a close race. The main opposition party, Samagi Jana Balawegaya, led by Sajith Premadasa, is expected to challenge Dissanayake’s NPP. Another competitor is the New Democratic Front, a splinter group from the Rajapaksa family party. 

This party is backed by former president Ranil Wickremesinghe. Many voters who supported Dissanayake in the presidential election are expected to back him again in the general election.

One key area in the election is the southern district of Hambantota, where many voters are from farming and fishing communities. Sudath Kumara and his wife, Nilmini Kumari, are two such voters. 

They supported Dissanayake in the presidential election and plan to vote for him again in the upcoming general election. They are struggling with high costs of living. Despite working hard, their expenses far exceed their income.

Kumari explains that the cost of living is a big burden. Her husband, Sudath, earns just 3,000 rupees ($10) a month from odd jobs, but their monthly expenses are five times that amount. 

They grow some of their own food, but they still have to pay for things like fuel, water, transport, and school fees for their three children. They also struggle with power shortages. Kumari says her children have to do their homework during the day or use lamps when the power goes out.

NPP candidate Athula Welandagoda, who is running in Hambantota, is confident he can win one of the seven seats up for grabs. 

He believes there is a deep shift in Sri Lankan politics, with more people now looking for real change instead of voting for the traditional parties.

The Rajapaksa family, which has been a powerful force in Sri Lankan politics for many years, will not be contesting this election. For the first time in 88 years, no member of the Rajapaksa family is running. However, Namal Rajapaksa, the son of former president Mahinda Rajapaksa, is leading the campaign for the Sri Lanka Podujana Peramuna (SLPP) party. Namal, however, only received a small percentage of votes in the September presidential election.

 Namal remains confident that the SLPP can rebuild itself into a strong political force. He believes the party will perform better in the upcoming election and that a new generation of political leaders will take over in the near future.