Sri Lanka’s ninth presidential election, scheduled for September 21, has attracted a record 39 candidates, signalling a return to “business as usual” despite the severe economic crisis of 2022. The number of contenders, four more than in 2019, suggests a robust democratic process. There are familiar faces and some surprises. Incumbent President Ranil Wickremesinghe, traditionally with the United National Party, is running as an independent. At 75, he aims to garner broad support by highlighting the political and economic stability achieved during his two-year tenure, made possible by backing from the Sri Lanka Podujana Peramuna (SLPP), led by former President Mahinda Rajapaksa. In early 2022, Sri Lanka faced the full effect of an economic meltdown, brought on by, among other things, the COVID-19 pandemic and the 2019 Easter Sunday bombings. The central bank announced a debt repayment moratorium amid unsustainable debt and critically low reserves. The Russia-Ukraine conflict further worsened the situation. The Aragalaya movement resulted in the ousting of President Gotabaya Rajapaksa in 2022. Since then, Sri Lanka has secured an extended fund facility with the IMF, supported initially by India and now with an “agreement in principle” with India and the Paris Club creditors on a debt treatment plan. During the early recovery phase, people faced price hikes. Recently, prices of electricity, fuel, and cooking gas have decreased, but people are still struggling. Earnings from tourism, a major contributor, amounted to around $328 million in July against $219 million a year ago. However, in a move seen as part of electioneering, the government announced a monthly cost of living allowance of LKR 25,000 for public service employees, effective January 2025.
Mr. Wickremesinghe faces Sajith Premadasa of the Samagi Jana Balawegaya (United People’s Front), Anura Kumara Dissanayake of the Janatha Vimukthi Peramuna, and Mahinda Rajapaksa’s son, Namal of the SLPP. Mr. Dissanayake, who visited India in February, hopes to capitalise on public frustration with traditional political parties, a sentiment that fuelled the Aragalaya movement. Other candidates include P. Ariyanethran, a “common Tamil candidate”, Sarath Fonseka, former Army Commander, and Nuwan Bopage, a nominee of the Aragalaya activists. The leading candidates should push for the restoration of provincial councils, which represent a measure of autonomy as envisaged in the 13th Amendment. It is a sad commentary on the Sri Lankan political leadership that the councils have been rendered non-functional for years. Whoever is elected by about 17 million voters as President should revive the provincial councils, which are not Tamil-centric but are intended to infuse an element of agency for the people in the running of their affairs. A functional democracy is the first step to fixing the economy.