Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Six killed or injured in Israeli drone strike on displaced persons’ tents in Sanabel camp, al-Mawasi, west of Khan Younis
Al Mayadeen's correspondent in Gaza: Several injuries reported as a result of the drone strike on the displaced persons' tent in the Al-Mawasi area, west of Khan Yunis
Al Mayadeen's correspondent in Gaza: An Israeli drone strike targeted a tent housing displaced Palestinians in the Al-Mawasi area, west of Khan Younis, in the southern Gaza Strip
Al-Quds Brigades: Yesterday, we targeted an Israeli special forces unit with a guided 107mm rocket, after it took cover inside a residential building on Al-Mars Street in central Khan Younis, southern Gaza Strip
Abu Obeida: The endurance of our people and the heroism of our resistance fighters alone set the terms and map the future course
Abu Obeida: If the occupation managed, by some miracle, to extract its soldiers from the inferno, it may not be able to do so again, and next time, they could fall into our hands as new captives
Abu Obeida: The war of attrition our fighters are fighting across the entire Gaza Strip, from the north to south, will continue to cost the enemy more losses by the day
Abu Obeida: Our fighters launched their attack from the very ruins the occupation believed were devoid of life
Spokesperson for Al-Qassam Brigades, Abu Obeida: The Beit Hanoun operation dealt another heavy blow to the occupation’s military prestige
Israeli media: Several soldiers were killed in the Beit Hanoun ambush

Sri Lanka announces first presidential election amid recession

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Jul 2024 11:55
2 Min Read

Over 17 million Sri Lankans are eligible to exercise their right to vote on September 21 as the country attempts to reel in from numerous crises.

Listen
  • x
  • Chief of Sri Lanka’s election commission R.M.A.L. Rathnayake addresses a press conference on Jul 16, 2024. (AFP)
    Chief of Sri Lanka’s election commission R.M.A.L. Rathnayake addresses a press conference on July 16, 2024. (AFP)

Sri Lanka's first presidential elections amid its worst-ever economic recession that sparked nationwide unrest will be held in September, the election commission announced on Friday.

Presidential candidacy nominations will be accepted on August 15, allowing a five-week campaign period before citizens can take to the polls on September 21, the election commission said in a gazette notification. 

Over 17 million over the age of 18 are eligible to vote in the upcoming elections.

President Ranil Wickremesinghe, who has attempted to revive the country's deteriorated economy, will face at least two oppositions campaigning against the International Monetary Fund's (IMF) strict measures imposed under its bailout plan in an attempt to repair the country's financial state.

Related News

World Bank: Global growth to slow sharply, worst since 2008

Egypt poised for another interest rate cut ahead of economic reforms

Economic reforms are anticipated to dominate the upcoming presidential campaigns with opposition parties already pledging to renegotiate the $2.9 billion IMF bailout package Wickremesinghe secured in early 2023.

Sri Lanka's collapsed economy

Former Sri Lankan President Mahinda Rajapaksa's tenure saw the launch of the Hambantota Development Project, which was considered one of the white-elephant projects during his decade-long rule until 2015.

In 2017, unable to repay a substantial loan taken from China for the construction of the Hambantota port, Sri Lanka transferred it to the state-owned China Merchants Group for $1.12 billion under a 99-year lease.

In April 2022, Sri Lanka defaulted on its $46 billion external debt when it ran out of foreign exchange to cover essential imports like food, fuel, and medicine, causing a record 7.8% GDP decline.

To address its financial woes, Sri Lanka secured a $2.9 billion bailout from the International Monetary Fund (IMF) last year. However, the IMF program is contingent on reaching a debt agreement satisfactory to foreign creditors.

China reaffirmed its commitment to supporting Sri Lanka in March 2024, as the prime minister of the crisis-stricken island nation concluded a visit to Beijing to finalize a debt restructuring agreement.

  • International Monetary Fund
  • Sri Lanka
  • China
  • economic crisis

Most Read

Syria demands 1/3 of Golan, Lebanese areas for 'Israel' peace deal

Syria demands 1/3 of Golan, Lebanese areas for 'Israel' normalization

  • MENA
  • 4 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • Today
Al-Qassam hits IOF groupings in Khan Younis; ‘tough incident’ reported

3 Israeli soldiers killed by Resistance gunfire in south, north Gaza

  • Palestine
  • 4 Jul 2025
Concrete and rubble fall from a heavily damaged building as Israeli soldiers search for survivors in a residential area hit by a missile fired from Iran, near Tel Aviv, occupied Palestine, Sunday, June 15, 2025 (AP)

'Israel' concealed damage inflicted by Iran in war, report finds

  • Politics
  • 5 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Big beautiful bill's ugly reality for American healthcare
US & Canada

'Big beautiful bill's' ugly reality for American healthcare

Ukrainian Forces struggle to hold Eastern front lines: NYT
Europe

Ukrainian forces struggle to hold eastern frontlines: NYT

Plan proposes transit camps for Gazans ahead of possible relocation
US & Canada

GHF proposed 'transit areas' plan prior to Gaza residents 'relocation'

Lavrov: IAEA will be held accountable for pre-strike Iran assessments
Europe

IAEA to be held accountable for pre-strike Iran assessments: Lavrov

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS