IMA Insights

Sri Lanka's Elections by Adit Jain

IMA India

Sri Lankans, exasperated with corruption and crony capitalism amongst the ruling and business elite, voted for fundamental change. This constituted the basis of the support that drove the victory of Anura Kumara Dissanayake, an outsider from a Marxist political party, in the recently concluded presidential elections.  Mr Dissanayake promised to renegotiate the terms of the IMF bailout, eliminate corruption and bring back money siphoned offshore by the previous ruling family – the Rajapaksa. Despite these endearing promises, Mr Dissanayake’s ability to deliver is either limited or completely lacking.

Clearly, India may have been better-off with a Premadasa victory, as relationships with him and his party are believed to be strong. Be that as it may, Mr Dissanayake may quickly discover that things are quite different when you are in government and actually have to make compromises vis-a vis as an activist. 

This podcast explains.