Sri Lankan people hope next president will bring economic recovery

Many Sri Lankan people have expressed the hope that their next president to be elected will solidify the country's fragile economic recovery, as soaring prices have squeezed the middle class, and millions are reeling under economic hardship. Voting in Sri Lanka's presidential election kicked off on Saturday, with over 17 million registered voters set to elect the country's president for the next five years.

Two years after the country declared bankruptcy, economic issues are expected to play a major role in the outcome of the election, as Sri Lankans continue to grapple with the high cost of living.

"If we can put an end to corruption, we won't have to suffer anymore. It's the root of our problems, and if we tackle that, we can live peacefully in this country," said K. Wanasinghe, a voter.

Frustrated with the lack of accountability and fairness in the political system, another voter expressed a desire for change and a better future.

"We don't get proper justice to our vote, our freedom, our human freedom. We don't get (that). We deserve a better future," said Sachini, the voter.

The 2022 unrest, triggered by the economic crisis, led to the ousting of President Gotabaya Rajapaksha.

Two years later, after the International Monetary Fund (IMF) 's 2.9 billion-dollar bailout program and a 25 billion-dollar debt restructuring process, the economy is on a path of recovery.

Most candidates in Saturday's presidential election have pledged to continue the IMF program, albeit with some modifications.

Experts say any deviation might derail the process.

"As long as the overall trajectory of revenue consolidation and SOE (state-owned enterprise) reforms and the central bank independency, and the debt restructuring remains well within what we have achieved, then that's not going to be too much of a problem," economist Umesh Moramudali said.

Following the election, the new government will need to face the third IMF review within 100 days of taking office.

Sri Lankan people hope next president will bring economic recovery

Sri Lankan people hope next president will bring economic recovery

Iran on Saturday unveiled its latest homegrown precision strike long-range ballistic missile and kamikaze drone at a grand parade staged by the country's armed forces, the semi-official Fars news agency reported.

The ballistic missile, dubbed Jahad, and the drone, named Shahed-136B, were displayed for the first time during the parade at the mausoleum of Imam Khomeini, the late founder of the Islamic Republic, in southern Tehran. The event marked the beginning of Sacred Defense Week, commemorating the eight-year Iran-Iraq war in the 1980s, according to the report.

The one-stage Jahad ballistic missile, powered by solid fuel, can strike targets up to 1,000 km away with pinpoint accuracy. It has been designed and developed by the Aerospace Force of Iran's Islamic Revolution Guards Corps (IRGC), according to Fars.

The Shahed 136B drone, powered by a turbojet engine, can destroy targets over 2,500 km away, Fars said, adding the unmanned aerial vehicle has also been designed and manufactured by the IRGC's Aerospace Force.

In a speech at the parade, Iranian President Masoud Pezeshkian stressed that Iran has the capabilities to ''force the Israeli regime stop its crimes".

"Today we can declare to the world that in addition to defending our own country, Iran is capable of maintaining peace and stability with regional countries through solidarity and cohesion. And by uniting regional countries, Iran can force the Israeli regime, which is killing and committing genocide against women, children and the elderly, to stop its crimes," he said.

Iran unveils homegrown missile, drone at military parade marking Iran-Iraq war