Why Sri Lanka Election Puts IMF Bailout Deal in Spotlight.

Sri Lanka is holding a presidential election on September 21, which is expected to be a referendum on the austerity measures imposed under a $3 billion bailout from the International Monetary Fund (IMF). The incumbent, Ranil Wickremesinghe, is facing off against two rivals who want to open fresh talks with the IMF. The country's economic crisis was triggered by tax cuts, the pandemic, and a historic debt default. The election outcome is being closely watched by India and China, as Sri Lanka has cultivated ties with Beijing, causing unease in India. The top contenders are Wickremesinghe, Sajith Premadasa, and Anura Kumara Dissanayake, with no credible opinion polls available. The election process involves ranking candidates by order of preference, and if no one secures 50% of first-place votes, a run-off will be held. A smooth transition of power is not guaranteed. [Extracted from the article]