COLOMBO, Sri Lanka — A political alliance centered on the working class has emerged as a strong contender in Sri Lanka's presidential race, announcing itself to be the agent of change that millions of people called for when an unprecedented economic crisis led to disillusionment with traditional political parties.
Anura Kumara Dissanayake, leader of National People's Power alliance and its presidential candidate, says he's serving those who were part of public protests that ousted then-President Gotabaya Rajapaksa in 2022. Protesters blamed Rajapaksa for an economic collapse that resulted in severe shortage of essentials such as fuel, cooking gas, medicines and food.
''The people of our country have a great expectation for a change'' Dissanayake told The Associated Press. ''They wanted a change and we are the agents of that change. All the other candidates are the agents of the old, failed, traditional system.''
Unsustainable debt, poorly timed tax cuts, ill-planned import bans, economic effects of the COVID-19 pandemic, and the government's insistence on spending scarce foreign reserves to prop up the country's currency, the rupee, led to the economic collapse in 2022.
Hundreds of thousands held street protests and took control of vital buildings such as the president's office and prime minister's office. Rajapaksa fled from his official residence minutes before irate protesters stormed in. He later fled overseas and resigned.
Current President Ranil Wickremesinghe was elected by a majority vote from Rajapaksa backers in Parliament to cover the remainder of the term. Critics say the Rajapaksa family, many of whom held different posts in the government before the ouster, received Wickremesinghe's protection in return for their support for laws passed by him through Parliament. People were angry about corruption, nepotism and economic mismanagement that the powerful family fostered.
Dissanayake says the people's wishes for a change were not realized because the protesters did not have a plan beyond ousting the president and weren't equipped to take charge. Wickremesinghe sent police to disperse them soon after he took charge.
Wickremesinghe negotiated a bailout package with the International Monetary Fund. In the two years since, inflation dropped from 70% to around 5% under his administration. Interest rates came down, the rupee rebounded and foreign currency 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.