Dissanayake's anti-corruption, pro-poor pledges win him presidency

Anura Kumara Dissanayake may lack the political lineage of some of his rivals, but his leftist anti-poverty policies and pledge to fight corruption handed him victory on Sunday in Sri Lanka's presidential election.

Although his Janatha Vimukthi Peremuna (JVP) party has just three seats in parliament, the 55-year-old candidate was boosted by his promises of tough anti-corruption measures and bigger welfare schemes.

Dissanayake, popularly known as AKD, polled 1.27 million votes more than nearest rival and main opposition leader Sajith Premadasa. Incumbent President Ranil Wickremesinghe finished third.

Premadasa is the son of former President Ranasinghe Premadasa, who was assassinated in office. Wickremesinghe's uncle J R Jayewardene was a former president and prime minister, and Namal Rajapaksa, the eldest son of two-time president Mahinda Rajapaksa, was also one of the 38 candidates in the fray.

"There are people who think their family power will win this election but on Sept. 21, that family power, financial power, media power and state power will be defeated by people's power," Dissanayake said ahead of Saturday's election.

He will take oath early on Monday.

From left to centrist

Dissanayake ran as candidate for the National People's Power (NPP) alliance, which includes his JVP that traditionally championed Marxist economic policies centered on protectionism and state intervention.

In recent years the party has taken more centrist positions.

Dissanayake drew big crowds at election rallies, calling on Sri Lankans to leave behind the suffering of a deep economic crisis.

"This vote was against corruption and mismanagement. People see transparency and efficiency in him when it comes to governance," said Thirangana Weerasinghe, 28, a businessman.

Dissanayake, who comes from a small farmer household in the southern city of Thambuttegama and is a physical science graduate, presented himself during the campaign as the candidate of change, promising to dissolve parliament within about 45 days of coming to power and to seek a fresh mandate in the general elections for his policies.

"We are likely to see another election in the next couple of months," said Bhavani Fonseka, senior researcher at Colombo's Centre for Policy Alternatives.

"We have to see whether he decides to stay with this prime minister and cabinet, appoints his own or a caretaker government."

Dissanayake's manifesto plans, which include reworking a debt restructuring programme at the core of the International Monetary Fund's $2.9 billion bailout and a pledge to slash taxes that would impact fiscal targets raised worries among investors and market participants about his economic policies.

But during campaign speeches he took a more conciliatory approach, saying any changes would be undertaken in consultation with the IMF and that he is committed to ensuring repayment of debt.

Dissanayake's JVP led two failed insurrections - in 1971 and 1988 - against elected governments that led to deaths of thousands as security forces crushed the rebellions.

The party has since embraced mainstream politics and Dissanayake, who was not a leader at the time, has not commented on the insurrections in recent years.

A man reads a newspaper while sitting in front of closed shops, a day after voting ended for the presidential election, in Jaffna, Sri Lanka, September 22, 2024. REUTERS/Navesh Chitrakar

IMF and the next president

This was Sri Lanka's first election since the economy buckled in 2022 under a severe foreign exchange shortage, leaving the country unable to pay for imports of essentials including fuel, medicine and cooking gas.

Thousands of protesters marched in Colombo in 2022 and occupied the president's office and residence, forcing then-President Gotabaya Rajapaksa to flee and later resign.

Buttressed by a $2.9 billion bailout programme from the International Monetary Fund (IMF), the economy has posted a tentative recovery but the high cost of living was still a critical issue for many voters.

Although inflation cooled to 0.5% last month from a crisis high of 70%, and the economy is forecast to grow in 2024 for the first time in three years, millions remain mired in poverty, with many pinning hopes of a better future on the next leader.

The winner will have to ensure Sri Lanka sticks with the IMF programme until 2027 to get its economy on a stable growth path, reassure markets, repay debt, attract investors and help a quarter of its people climb out of poverty.

In his manifesto, Dissanayake, known for his ability to deliver stirring speeches, has pledged to slash taxes that would impact fiscal targets, leaving investors and market participants worried about his economic policies.

However, during campaign speeches he has taken a more conciliatory approach, saying any changes would be undertaken in consultation with the IMF and that he is committed to ensuring repayment of debt.