Sri Lanka Plans to Hold Presidential Election From September

(Bloomberg) -- Sri Lanka announced plans to vote for a president from September as the South Asian country looks to get back on track after the worst economic crisis in its independent history.

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The Election Commission will carry out the presidential poll on a day between Sept. 17 and Oct. 16 after calling for nominations for candidates, according to a statement on Thursday.

President Ranil Wickremesinghe, whose term ends in November, is likely to seek a mandate for the economic reforms he is carrying out in exchange for a $3 billion bailout loan from the International Monetary Fund. Wickremesinghe was elected by lawmakers in July 2022 after Gotabaya Rajapaksa resigned following weeks of street protests.

The election announcement comes as Sri Lanka holds talks with global investors to restructure some $12 billion in defaulted global bonds. Wickremesinghe said earlier on Thursday that his aim is to complete the debt restructuring by June.

Read more: Sri Lanka Poised for Bondholder Deal by Mid-May, StanChart Says

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