Sri Lanka to Hold Parliamentary Election on Nov. 14
The government of Sri Lanka has announced that a parliamentary election will be held on November 14, following the recent election of Anura Kumara Dissanayake as the new president of the country. Here are five key reasons why Dissanayake has called for a snap general election:
Ride Momentum
- Dissanayake received a significant boost in the presidential poll, securing 5.6 million votes, or 42.3% of the total vote.
- This marks a substantial increase from the 3% he received in the previous presidential election in 2019, indicating a strong wave of public approval.
- By calling for a general election, Dissanayake aims to consolidate his power in the 225-seat parliament.
Support from Parliament
- Dissanayake ran as a candidate for the National People’s Power alliance, which includes his JVP party.
- The alliance currently holds only three seats in the existing parliament, prompting the president to dissolve the legislature to strengthen his position.
- Without support from parliament, fulfilling campaign promises such as tax reductions and public revenue allocation will be challenging.
IMF Programme
- Sri Lanka has benefited from a $2.9 billion IMF bailout programme, which has helped boost reserves and stabilize the economy.
- Austerity measures linked to the bailout have faced criticism, and Dissanayake aims to revisit the terms of the agreement to bring relief to the public.
- However, passing a budget to implement these changes will require parliamentary support.
Debt Rework
- Sri Lanka is currently restructuring approximately $25 billion in foreign debt.
- Parliamentary support will strengthen Dissanayake’s position in negotiations with bondholders, providing clarity on government policies.
Cabinet Numbers
- Due to the lack of parliamentary majority, Dissanayake has faced challenges in forming a complete cabinet.
- Key ministries such as finance, defense, and energy remain under the president’s direct control, while other portfolios have been assigned to interim ministers.
Overall, the upcoming parliamentary election will play a crucial role in determining the level of support and authority that President Dissanayake will have to implement his policy agenda and navigate the country’s economic challenges.