17m people vote for new president today

Cash-strapped Sri Lanka goes to polls today to pick its next president in an effective referendum on an unpopular International Monetary Fund austerity plan enacted after the island nation's unprecedented financial crisis.

President Ranil Wickremesinghe urged voters to give him a fresh mandate to continue with austerity measures he says stabilised the economy and ended months of food, fuel and medicine shortages.

"We must continue with reforms to end bankruptcy," Wickremesinghe, 75, said at his final rally in Colombo. "We must build a new economy."

He has restored calm to the streets after civil unrest spurred by the downturn in 2022 saw thousands storm the compound of his predecessor, who promptly fled the country. "Decide if you want to go back to the period of terror, or progress", he added.

But Wickremesinghe's tax hikes and other belt-tightening measures, imposed in line with a $2.9-billion IMF bailout, have left millions struggling. Experts warn that Sri Lanka's economy is still vulnerable, with payments on the island's $46-billion foreign debt yet to resume since a 2022 government default.

"The election will largely be a referendum on how Wickremesinghe's government has handled the economic crisis and the ensuing modest recovery," the International Crisis Group said this week.

It added that many citizens were suffering "enormous hardship at the same time as Colombo cuts costs and takes other austerity measures perceived by the public as unfair".

Some 17.1 million people are eligible to vote. Over 200,000 officials have been deployed to conduct the election. Results are expected by tomorrow.