Sri Lanka's shock election result shows how economic recovery isn't enough
Sri Lankaʼs recent election brought an unexpected winner despite improving economy. The victory of a former-rebel party leader with 42% votes marks historic shift in countryʼs political landscape
In a turn-of-events that shocked many Sri Lankaʼs Sept-24 presidential election brought an un-expected winner despite the countryʼs steady economic bounce-back. The election saw Anura Kumara Dissanayake a left-wing party leader gain power with un-precedented support
The numbers tell an interesting story; the economy shows clear signs of re-bound: inflation dropped to 2%‚ exchange rates got better and growth looks good (economists think GDP will grow twice as fast as IMFʼs guess). Yet voters didnt care much about these macro-economic wins
The victory of Dissanayake who leads the JVP party marks a huge shift: his party got just 3% votes about 5 years ago but now grabbed 42% support. This ex-rebel group known for its anti-establishment past changed its image to focus on anti-corruption message – a smart move that paid off
- Food and fuel shortages hit hard
- Poverty doubled during crisis
- IMF deal made life harder
- Living costs went up fast
- Public wages stayed frozen
The previous leader Ranil Wickremesinghe (who stepped in when the Rajapaksas left) couldnt convince people even though he helped fix the economy. Most voters simply asked themselves: “are we better-off now than two years ago?“ The answer was clear from election results
The new president faces tough choices ahead: he must keep his promise of better living standards while staying within IMF rules. Any big changes to current economic plans might scare-off foreign money which Sri Lanka needs badly. The road to full recovery looks long and bumpy
