Would you like to receive notifications on latest updates of the following headlines?

Sri Lanka Fixes Sept 21 For Presidential Election Amid Economic Crisis

POSTED ON July 26, 2024 •   Politics      BY Benedicta Bassey
President Sri Lanka, Ranil Wickremesinghe/ Photo credit: Times of India

Sri Lanka, South Asia, has on Friday announced that its presidential elections will take place on September 21.

This was contained in a government notice released on Friday.
The election would mark a pivotal voting time that could shape the future of reforms as the country grapples with its most severe financial crisis in decades.

Candidates must submit their nominations by August 15, with current President Ranil Wickremesinghe being the first to do so by paying a non-refundable fee to the election commission, as stated by his office.

Wickremesinghe, aged 75, assumed the presidency in July 2022 following mass protests over the financial crisis, which led to his predecessor Gotabaya Rajapaksa fleeing the country and subsequently resigning. 

The parliament then elected Wickremesinghe to complete Rajapaksa’s remaining term, originally set to end in November 2024.
Bhavani Fonseka, a senior researcher at the Colombo-based Centre for Policy Alternatives, said the election commission must be allowed to conduct the vote freely and fairly.
Nearly 17 million of Sri Lanka’s 22 million residents are eligible to participate in the election. 
Wickremesinghe, aided by a $2.9 billion bailout from the International Monetary Fund (IMF), has managed to stabilise the economy, reducing inflation from 70% in September 2022 to 1.7% in June, strengthening the rupee, and rebuilding foreign exchange reserves.
The economy is projected to grow by 3% in 2024 after contracting by 2.3% last year and 7.3% during the peak of the crisis.
Bilateral creditors, including Japan, China, and India, agreed last month to restructure $10 billion in debt, allowing Sri Lanka to defer repayments for four years and save $5 billion. 
However, the country still needs to finalise an agreement with bondholders to restructure $12.5 billion in debt before a third IMF review later this year.
High taxes imposed under the IMF programme, persistent inflation, and a stagnant job market have pushed a quarter of the population into poverty and led thousands to emigrate.
Opposition leader Sajith Premadasa and Anura Kumara Dissanayake of the Marxist-leaning Janatha Vimukthi Peramuna (JVP) might capitalise on this during campaigns.

READ ALSO
Tinubu Orders Urgent Repairs on Flood-Damaged Bridge in Mokwa
BY Abiodun Saheed Omodara June 4, 2025 0

NIGER, Nigeria (NAN)- President Bola Tinubu has instructed the Federal Ministry of Works to repair t...

READ ALSO
Road Maintenance Crisis: FERMA Requires N880 Billion Yearly Amid Budget Shortfalls
BY Abiodun Saheed Omodara June 3, 2025 0

ABUJA, Nigeria - The Federal Government needs approximately N880 billion each year for the upkeep of...

READ ALSO
PDP Leaders Slam Minister for Backing Tinubu's 2027 Campaign
BY Abiodun Saheed Omodara June 3, 2025 0

The People’s Democratic Party (PDP), New Nigeria Peoples Party (NNPP), Coalition of United Pol...

READ ALSO
Natasha Akpoti-Uduaghan Set to Appear in Court as F G Files Defamation Charges
BY Abiodun Saheed Omodara June 2, 2025 0

The suspended senator for Kogi Central Senatorial District, Natasha Akpoti-Uduaghan, is scheduled to...

READ ALSO
Sanusi, El-Rufai, and Yusuf Discuss Nigeria's Poverty and Governance
BY Abiodun Saheed Omodara June 1, 2025 0

ABUJA, Nigeria - Sanusi Lamido Sanusi, the Emir of Kano and ex-Governor of the Central Bank of Niger...

READ ALSO
Cabinet Reshuffle Looms: President Tinubu Set to Announce Changes Post-Eid
BY Abiodun Saheed Omodara June 1, 2025 0

If everything goes smoothly, President Bola Tinubu is expected to announce his cabinet members who w...

READ ALSO
Tinubu Commits to Collaborative Efforts with AfDB's New Leadership, Congratulate Sidi Tah
BY Abiodun Saheed Omodara May 30, 2025 0

President Bola Tinubu has praised the election of Sidi Tah as the ninth president of the African Dev...

READ ALSO
Oshiomhole, Sowore Clashes Over Nigeria's democracy
BY Abiodun Saheed Omodara May 29, 2025 0

The 2023 Presidential Candidate for the African Action Congress, Omoyele Sowore, and the Senator for...

OUR CHANNELS:

NEMA Mobilizes Teams to 15 States Amid Flood Warnings
BY Abiodun Saheed Omodara June 5, 2025 0

The National Emergency Management Agency (NEMA) has sent officials to 15 high-risk states to educate...


Edo Faces Diphtheria Outbreak, Two Confirmed Deaths
BY Abiodun Saheed Omodara June 5, 2025 0

EDO, Nigeria (NAN) - A diphtheria outbreak has been confirmed in Edo State, resulting in two deaths....


Tinubu Honors Bill Gates with National Award for Global Philanthropy
BY Abiodun Saheed Omodara June 5, 2025 0

LAGOS, Nigeria - President Bola Tinubu commended Bill Gates, the co-founder of Microsoft and chairma...


Bahrain, Colombia, DRC, Latvia, and Liberia Join UN Security Council for 2026-2027 Term
BY Abiodun Saheed Omodara June 5, 2025 0

The UN General Assembly on Tuesday elected five new non-permanent members to the UN Security Council...


Tinubu Orders Urgent Repairs on Flood-Damaged Bridge in Mokwa
BY Abiodun Saheed Omodara June 5, 2025 0

NIGER, Nigeria (NAN)- President Bola Tinubu has instructed the Federal Ministry of Works to repair t...


Nigeria Needs ₦2.2 Trillion to Eliminate Cervical Cancer by 2030, Says Task Force Chair
BY Abiodun Saheed Omodara June 5, 2025 0

ABUJA, Nigeria — Nigeria will need ₦2.2 trillion to roll out comprehensive cervical cancer ini...


EFCC Charges Two Men for Posing as Fake Sureties in Illegal Mining Case
BY Abiodun Saheed Omodara June 4, 2025 0

The Economic and Financial Crimes Commission (EFCC) has charged two individuals, Shehu Abdu and Isah...


Court Sentence Scrap Seller to 12 Years for Sexual Assault of Four-Year-Old Girl
BY Abiodun Saheed Omodara June 4, 2025 0

A scrap seller, Nasiru Usman, was sentenced to 12 years in prison by an Ikeja Sexual Offences and Do...


70-Year-Old Faces Manslaughter Charges After Fatal Accident
BY Abiodun Saheed Omodara June 5, 2025 0

LAGOS, Nigeria - A 70-year-old man, Isiaka Afolayan, has been detained for careless driving and the...


Police Arrest 49 years old Suspect for Abduction of Two-Month-Old Baby
BY Abiodun Saheed Omodara June 5, 2025 0

DELTA, Nigeria - The police in Delta reported the arrest of a suspect named Joy Temitope for the abd...


More Articles

Load more...

Menu