New Sri Lanka president needs to balance campaign promises with debt obligations, say analysts

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New Sri Lanka president needs to balance campaign promises with debt obligations, say analysts
ElectionIMF Bailout
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Observers noted Dissanayake's election victory came as no surprise, as voters punished the previous government over years of corruption and economic mismanagement.

Observers noted Dissanayake's election victory came as no surprise, as voters punished the previous government over years of corruption and economic mismanagement.

Michael Kugelman, director of the South Asia Institute at think tank Wilson Center, called the result of the election “striking”, and a “drastic change” in Sri Lankan politics. This time, Dissanayake and his party pulled a remarkable turnaround by capitalising on public outrage against the government and attracting youth votes, said observers.

Voters rallied behind Dissanayake despite the controversial past of his Janatha Vimukthi Peramuna , or People's Liberation Front party. In the 1980s, it led failed uprisings that left tens of thousands dead. Dissanayake has said he will go against some conditions set by the IMF loan in order to fulfil his campaign promises of lower taxes and utility bills, and negotiate with the fund for a better deal.

Dissanayake is expected to dissolve parliament within 45 days, which would help him seek a fresh mandate for his proposed policies.If the economic fortunes of Sri Lanka do not improve, the Rajapaksas may be able to find a way to return to the forefront of politics, experts said.

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