Sri Lanka's Crucial Presidential Election Amid Financial Turmoil

Sri Lanka will hold a presidential election on Sept. 21, a significant event following its worst financial crisis. Incumbent President Ranil Wickremesinghe, who took office amid protests in 2022, is expected to run. The election's outcome will be pivotal for continuing economic reforms and stabilizing the country.

Sri Lanka will vote on September 21 to elect a new president, a pivotal contest likely to shape the future of reforms in the crisis-hit island nation. Nominations are due by August 15, according to a government notice released Friday.

Incumbent President Ranil Wickremesinghe, who assumed office in July 2022 after widespread protests ousted his predecessor Gotabaya Rajapaksa, is expected to run. Nearly 17 million of the country's 22 million residents are eligible to vote in this crucial election.

Wickremesinghe, 75, was appointed by Parliament to complete the term vacated by Rajapaksa. Under his leadership, aided by a $2.9 billion IMF bailout, the shattered economy has been stitched back together, significantly reducing inflation and rebuilding foreign reserves.

However, Sri Lanka still faces major challenges, including a $12.5 billion debt restructuring and high poverty levels, with key opposition figures pledging to ease the financial burden if elected.

(With inputs from agencies.)