Record 39 candidates to run in Sri Lanka’s presidential election

Economy remains key issue after protesters angered by financial crisis toppled President Gotabaya Rajapaksa in 2022.

A record number of candidates are contesting Sri Lanka’s presidential election next month as the country grapples with an unprecedented economic crisis.

The electoral commission accepted 39 applications on Thursday for the September 21 election, including from incumbent Ranil Wickremesinghe.

During the last vote in 2019, 35 candidates ran for the presidency.

“We have to stabilise the economy,” Wickremesinghe told reporters after filing his nomination. “What we are saying is, ‘Let’s go ahead and finish this job’. That’s why I’m asking for your support.”

The South Asian nation is in the midst of a critical debt restructuring and financial reform programme under a bailout by the International Monetary Fund (IMF).

With unsustainable debt, the lingering effects of the COVID-19 pandemic, and a shortage of fuel, medicine and food in 2022, widespread protests led to the resignation of former President Gotabaya Rajapaksa.

Wickremesinghe, 75, was elected as president in 2022 and shepherded the country through the economic crisis with a series of reforms and an ambitious target to make the country a developed nation by 2048.

The election is seen as a referendum on his economic reforms, which have not affected many people despite improving key economic figures.

Inflation has dropped to about 5 percent from 70 percent two years ago under Wickremesinghe’s administration. Interest rates have also 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.