COLOMBO - Sri Lanka will hold a parliamentary election on Nov. 14, the government announced on Tuesday, less than two months after the Indian Ocean island nation elected Anura Kumara Dissanayake as its new president.
A person reads a newspaper following the appointment of Harini Amarasuriya as the new Prime Minister of Sri Lanka at a stall in Colombo, Sri Lanka, September 25, 2024. REUTERS/Thilina Kaluthotage/File Photo
Below are five key reasons why Dissanayake, who won the presidential poll at the weekend, called a snap general election:Dissanayake polled 5.6 million votes, or 42.3%, in Saturday's poll, a massive boost to the 3% he managed in the last presidential election in 2019. His nearest rival, opposition leader Sajith Premadasa, won 32.8%.Dissanayake ran as a candidate for the National People's Power alliance, which includes his Janatha Vimukhti Peremuna party.
Despite his executive powers as president, fulfilling his pro-poor campaign promises of reducing taxes and freeing up public revenue for tax relief and investment will prove difficult without backing from parliament.A four-year, $2.9 billion IMF bailout programme has helped Sri Lanka boost reserves, stem a fall in its currency and tame runaway inflation to kickstart a tentative economic recovery.
During campaigning, Dissanayake said he wanted to slash taxes and revisit the terms of the IMF bailout, promising to bring change for those reeling under the austerity measures. But passing a budget will be hard without support in parliament.Sri Lanka is in the middle of restructuring about $25 billion foreign debt. Getting parliamentary support will strengthen Dissanayake's hand in negotiations with bondholders, who may in turn find policy clarity from the new president reassuring.
He named Harini Amarasuriya as prime minister with five portfolios, while Vijitha Herath was given charge of six ministries, including foreign affairs. Dissanayake kept key ministries such finance, defence and energy to run himself. REUTERSResend verification e-mail
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