(MENAFN- Live Mint) Sri Lanka has chosen Anura Kumara Dissanayake, a 'Marxist' leader, as its 10th President. This landmark decision follows a referendum against the incumbent President Ranil Wickremesinghe and signifies a crucial shift after the Rajapaksa family's ousting in 2022. The nation is still grappling with the aftermath of a severe economic meltdown, and Dissanayake 's leadership brings hope for recovery.
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polls Economic Recovery: Will Dissanayake Deliver?
Dissanayake's election has raised expectations for effective navigation through Sri Lanka's ongoing economic crisis. However, speculation abounds regarding his geopolitical stance: Will he lean toward China like his predecessors, or foster a stronger relationship with India?
Pro-China or Pro-India: What Lies Ahead?
Initial reports suggested that Dissanayake may be inclined towards China, a notion rooted in the stereotype of Marxist leaders. Historically, Sri Lanka has favored China during the Rajapaksa era, with significant loans funding controversial projects like the Colombo Port City and Hambantota Port, ultimately exacerbating the country's debt crisis.
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Dissanayake's party, the National People's Power (NPP), aims to allay concerns about potential pro-China leanings. They have reassured India that the new administration will not become entangled in geopolitical rivalries.
"Sri Lankan territory will not be used against any other nation," Bimal Ratnayake, a spokesperson for the party, told AFP.“We are fully aware of the geopolitical situation in our region, but we will not participate.”
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Professor Anil Jayantha, a member of the NPP's national executive committee, emphasized the importance of engaging with India:“India is certainly our neighbour and a superpower. Our leader wants to deal with all major powers to stabilize the Sri Lankan economy.”
The Geopolitical Importance of Sri Lanka
Sri Lanka's strategic location in the Indian Ocean has heightened its geopolitical relevance, especially given interests in the Indo-Pacific and China 's expanding influence in South Asia.
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China's Continued Influence in Sri Lanka Despite India's efforts, China remains a significant player in Sri Lanka . From 2006 to 2022, China committed $11.2 billion in grants and loans for infrastructure projects, far exceeding the $97 million spent by the U.S. during the same timeframe, according to a Bloomberg report citing AidData.
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India's Growing Concerns India is increasingly cautious about China's footprint in Sri Lanka, particularly following the leasing of Hambantota Port to a Chinese firm. Once intended to be a major shipping hub, Hambantota struggled to attract traffic, leading Sri Lanka to surrender control to China for 99 years in exchange for $1.1 billion. This move has raised fears that the port could be used for military purposes, a claim Sri Lankan officials have refuted.
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Strengthening Indo-Sri Lankan Ties In response to China's growing influence, India is actively working to bolster its relationship with Sri Lanka. Notably, the Adani Group, supported by U.S. funding, is leading a multi-million-dollar expansion of the Colombo West International Terminal.
This initiative aims to enhance Sri Lanka's capacity as a key shipping hub in South Asia and serve as a counterweight to China's longstanding investments in the region, as reported by Bloomberg.
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