Sri Lanka’s elections commission has accepted applications from a record 39 candidates to run in next month’s presidential election, which will decide the course of the country’s financial reforms to survive an unprecedented economic crisis. The commission said Thursday it received 39 applications and all were accepted.
Sri Lanka ’s President Ranil Wickremesinghe waves to media as he arrives to file nomination for the upcoming presidential election in Colombo, Sri Lanka , Thursday, Aug. 15, 2024. Namal Rajapaksa, son of former President Mahinda Rajapaksa waves to media as he arrives to file nomination for the upcoming presidential election in Colombo, Sri Lanka , Thursday, Aug. 15, 2024.
Sri Lanka is in the middle of a critical debt restructuring and financial reform program under a bailout program by the International Monetary Fund. Inflation has dropped to around 5% from 70% two years ago under Wickremesinghe’s administration. Interest rates have dropped, the rupee has rebounded, and foreign reserves have increased. Creditor countries such as India, Japan and France have agreed to defer debt repayments until 2028, giving the island nation space to rebuild its economy.But professionals and businesses complain of higher taxes, and all people are affected by the high cost of living.
Wickremesinghe unsuccessfully contested presidential elections in 1999 and 2005, while Premadasa and Dissanayake lost the 2019 presidential election.
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