Sri Lanka’s New President Plans Snap Parliamentary Elections

AFP/APP

Colombo: Sri Lanka’s newly elected leftist president, Anura Kumara Dissanayake of the People’s Liberation Front (JVP), is expected to call for snap parliamentary elections as he aims to renegotiate the country’s contentious International Monetary Fund (IMF) bailout program. Dissanayake was sworn into office on Monday following a landslide victory in the weekend’s presidential elections.

His party, which previously held only three seats in Sri Lanka’s 225-member parliament, has gained significant support amid the economic turmoil that has affected millions since a severe financial crisis in 2022. The unpopularity of the current IMF bailout package further fueled Dissanayake’s rise.

When asked by reporters in Kandy whether he would follow through on his campaign promise to dissolve parliament immediately, Dissanayake replied, “Wait for two days.” His ally, lawmaker Harini Amarasuriya, indicated that the parliament could be dissolved “within a day.”

Dissanayake’s victory over 38 candidates, where he secured over 1.2 million votes more than his nearest rival, reflects a growing discontent with the previous administration led by Ranil Wickremesinghe.

The former president had implemented significant tax increases and austerity measures tied to the $2.9 billion IMF bailout secured last year, which were met with widespread backlash.

The IMF congratulated Dissanayake on his victory and expressed readiness to discuss the future of the rescue plan. A spokesperson stated, “We look forward to working together with President Dissanayake… towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery.”

Despite the challenges ahead, a senior aide to Dissanayake confirmed that the new administration would not reject the IMF agreement outright.

“Our plan is to engage with the IMF and introduce certain amendments,” said Bimal Ratnayake. “We will not tear up the IMF programme. It is a binding document, but there is a provision to renegotiate.”

In his inaugural address, Dissanayake sought to manage public expectations, stating, “I am not a conjuror, I am not a magician, I am a common citizen… my responsibility is to be part of a collective effort to end this crisis.”