Ranil Wickremesinghe was voted in as Sri Lanka’s president on Wednesday, backed by a majority of lawmakers from ousted leader Gotabaya Rajapaksa’s party, a development that could reignite street protests in the bankrupt nation and scuttle bailout talks with the International Monetary Fund.

Wickremesinghe, 73, beat Dullas Alahapperuma, an opposition-backed candidate who had the support from a faction within the ruling party, and left-leaning lawmaker Anura Kumara Dissanayake from the opposition Janatha Vimukthi Peramuna. He secured 134, or more than 50%, of the votes cast in parliament.

The leader described the victory as an "honor and a privilege,” as he addressed parliament soon after the results were announced.