Mon Sep 23 18:02:40 UTC 2024: ## Sri Lanka’s New President Faces Economic Crisis: Marxist Leader Sworn In
**COLOMBO, Sri Lanka** – Anura Kumara Dissanayake, a Marxist politician, was sworn in as Sri Lanka’s president on Monday, marking a significant shift in the country’s political landscape. Dissanayake, leader of the National People’s Power coalition, won a landslide victory in Saturday’s election, defeating incumbent Ranil Wickremesinghe and other candidates.
The election comes as Sri Lanka struggles to recover from a devastating economic crisis that plunged the nation into widespread shortages of essential goods and sparked mass protests in 2022. Dissanayake’s victory is seen as a rejection of the old guard, blamed for the crisis, and a demand for change.
In his inaugural speech, Dissanayake acknowledged the challenges ahead, stating, “We have deeply understood that we are going to get a challenging country.” He pledged to work collaboratively to address the crisis, acknowledging that “a single party or an individual” cannot solve the deep-rooted problems.
Dissanayake, the ninth person to hold Sri Lanka’s executive presidency, faces a daunting task as the first president to assume office without a majority in parliament. Political analyst Dayan Jayatilleka highlighted the need for Dissanayake to engage in “politics of consensus.”
Dissanayake’s coalition, led by the Janatha Vimukthi Peramuna (JVP), has historically been a Marxist party advocating for socialist revolution. While the JVP has participated in democratic politics since the 1990s, it has primarily been an opposition force.
Dissanayake’s first major challenge will be to address his campaign promise of easing the austerity measures implemented by Wickremesinghe under an International Monetary Fund (IMF) agreement. However, Wickremesinghe has warned that any significant changes to the agreement could delay the release of vital IMF funds.
The economic crisis stemmed from excessive borrowing, the COVID-19 pandemic’s impact, and the government’s unsustainable use of foreign reserves to support the rupee.
Dissanayake has also pledged to dissolve parliament, where his party holds only a small minority of seats.
International leaders, including Chinese President Xi Jinping, the United States, and India, have congratulated Dissanayake on his victory. The world now watches to see how he will navigate the complex challenges facing Sri Lanka and begin the long road to recovery.
First Piper 