Reuters – September 22, 2024 Sri Lanka’s Marxist-leaning leader, Anura Kumara Dissanayake, won the presidential election for the debt-ridden island nation, local TV said on Sunday, citing Election Commission figures.
Author: LMD International
Voting has ended Saturday in Sri Lanka’s presidential election as the country seeks to recover from the worst economic crisis in its history and the resulting political upheaval. The election, contested by 38 candidates, is largely a three-way race among incumbent liberal President Ranil Wickremesinghe, Marxist-leaning lawmaker Anura Kumara Dissanayake, and opposition leader Sajith Premadasa. There are 17 million eligible voters, and final results are expected Sunday. Associated Press – September 21, 2024 The results will show whether Sri Lankans approve of Wickremesinghe’s leadership of a fragile recovery, including restructuring Sri Lanka’s debt under an International Monetary Fund program after it…
Sri Lanka reached a draft deal with creditors to restructure $12.5 billion of international bonds, it said on Thursday, in a major boost to the island nation’s fragile recovery just two days before its presidential election. The country defaulted on its foreign debt for the first time ever in May 2022, engulfed in a severe crisis and buckling under its high debt burden and dwindling foreign exchange reserves. The agreement comes after Sri Lanka began a third round of formal debt restructuring talks with bondholders last week. The country had to renegotiate parts of a previous draft deal, which it…
LONDON/COLOMBO (Reuters) -Sri Lanka’s election this coming Saturday has raised doubts over when its long-awaited debt deal with bondholders will be finalised, if it keeps up with its IMF programme targets and even whether it results in a president inclined to change both. Two of the leading presidential contenders, opposition leader Sajith Premadasa and Marxist-leaning parliamentarian Anura Kumara Dissanayake, have expressed interest in reworking Sri Lanka’s $2.9 billion International Monetary Fund bailout. Sri Lanka has struggled since suicide bombings in 2019 hit its tourism industry, worsening its over-spending and capping growth. Less than a year later, the COVID-19 pandemic and…
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