Anura Kumara Dissanayake, a Marxist politician, assumed the presidency of Sri Lanka on Monday.

Dissanayake, 55, whose party, the People’s Liberation Front, is a Marxist group known for two armed uprisings in the 1970s and 1980s, has been accused of contributing to the country’s economic crisis.

“We are acutely aware that we are inheriting a challenging country,” Dissanayake acknowledged during his inauguration ceremony. “We do not believe that a single government, party, or individual can solve this deep crisis.”

China extended congratulations to Dissanayake on his victory, stating on Monday that it looks forward to collaborating “to jointly carry forward our traditional friendship.” The U.S. and India have also offered congratulations.

Located south of India, many of the 22 million residents of Sri Lanka, a nation roughly the size of West Virginia, expressed dissatisfaction with the country’s political landscape as it navigates its way out of an economic crisis.

Reuters reports that inflation reached as high as 70% following the 2022 collapse due to a severe dollar shortage. However, inflation has since cooled, and the nation’s GDP is projected to grow “for the first time in three years.”

Dissanayake’s inauguration marks the first standard transfer of power in Sri Lanka since 2022, when rioters forced then-President Gotabaya Rajapaksa to resign and flee the country. Wickremesinghe subsequently assumed the presidency.

Dissanayake’s initial major challenge will be fulfilling his campaign promise to ease austerity measures implemented by his predecessor, Wickremesinghe, under a relief agreement with the International Monetary Fund, Sri Lanka’s largest creditor.

The Associated Press and Reuters contributed to this report