Sri Lanka to vote in first election since protests ousted leader

Then-president Rajapaksa and his government were blamed for the crisis, leading to months-long protests calling for his resignation.

On 13 July 2022, in dramatic scenes that were broadcast around the world, crowds overran the presidential palace, jumping into the swimming pool and ransacking the house.

In the wake of Rajapaksa’s flight from the country – an exile that lasted 50 days – the interim government of President Wickremesinghe imposed strict austerity measures to salvage the economy.

Although the economic reforms have successfully brought down inflation and strengthened the Sri Lankan rupee, everyday Sri Lankans continue to feel the pinch.

“Jobs are the hardest thing to find,” says 32-year-old Yeshan Jayalath. “Even with an accounting degree, I can’t find a permanent job.” Instead, he has been doing temporary or part-time jobs.

Many small businesses across the country are also still reeling from the crisis.

Norbet Fernando, who was forced to shut his roof tile factory north of Colombo in 2022, told the BBC that raw materials such as clay, wood and kerosene are three times more costly than they were two years ago. Very few people are building homes or buying roof tiles, he added.

“After 35 years, it hurts to see my factory in ruins,” Fernando told the BBC, adding that of the 800 tile factories in the area, only 42 have remained functional since 2022.

Central bank data on business sentiments shows depressed demand in 2022 and 2023 – and though the situation is improving in 2024, it’s still not back to pre-crisis levels.

“The Sri Lankan economy may for now have been put back on its feet, but many citizens still need to be convinced the price is worth paying,” Alan Keenan, the International Crisis Group’s (ICG) senior consultant on Sri Lanka, told the BBC.