The recent legislative elections in Sri Lanka are a new episode in a crisis that began in the summer of 2022 with the flight and resignation of then leader Gotabaya Rajapaksa. At the time thousands of protesters invaded his residence after three months of continuous mobilization against the presidential caste. Against a backdrop of deep economic crisis and shortages of basic necessities and high inflation, accompanied by inter-religious tensions exacerbated by the government, the country had been gripped for many weeks by days of major general strikes and protests that were harshly repressed. These mobilizations showed the full strength of the Sri Lankan working class; it managed to put an end to the governance of the family clan of Gotabaya Rajapaksa, which was in power for decades, and to plunge the regime into a state of major crisis.
It is in this context that the election of Anura Kumara Dissanayake (nicknamed AKD) in September 2024 comes into play, following a campaign focused on the fight against corruption. With his campaign, he announced the definitive burial of the old establishment and the promise of a renegotiation of agreements with the IMF, in particular regarding the privatization of state-owned enterprises and tax pressure. Capitalizing on the population’s distrust of traditional politicians and taking advantage of the collapse of the influence of the big political families, AKD’s party managed to maintain this momentum until the legislative elections in November. The National People’s Power (NPP) won a resounding victory, obtaining 159 of the 225 seats in Parliament. This victory gives the new president free rein to carry out his policies.
But global capitalism can rest easy, because AKD has long since left his Marxist origins behind. On November 21, in his first speech to parliament, AKD went back immediately on his campaign promise and announced that he would “focus on maintaining economic stability and reaffirming trust with the various stakeholders in the economic world.” The day after, the IMF welcomed the discussions held with the new administration and announced the agreement of an additional $333 million as part of an economic plan implemented in 2022.
