(Bloomberg) -- Sri Lanka’s leftist candidate pulled ahead in the country’s first-ever runoff in the presidential election after none of the contenders secured the necessary 50% vote share needed to win outright.

Most Read from Bloomberg

• The Moonshot Plan to Eliminate Deaths on America’s Roads

• AOC Proposes $30 Billion Social Housing Authority

• Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public Transport

• New York City’s Transit System Plans $65.4 Billion of Upgrades for Grand Central, Subways

The Election Commission of Sri Lanka called for the runoff Sunday, pitting the frontrunner from the first round, Anura Kumara Dissanayake, against second-place candidate and opposition leader Sajith Premadasa. With 13.3 million votes counted as of 4:27 p.m. local time, Dissanayake’s support was at 42.3% versus 32.8% for Premadasa.

A final result could be announced later Sunday. Under Sri Lanka’s runoff rules, the second- and third-place choices picked by voters at the polls on Saturday are tabulated. Any of those votes in favor of the two front-runners are then added to their existing totals, and the candidate with the largest number of votes is declared the winner.

The count so far signaled a defeat for incumbent President Ranil Wickremesinghe, following a populist groundswell — channeled by the outsider candidacy of Dissanayake — against the austerity measures imposed by his government in exchange for a $3 billion bailout from the International Monetary Fund last year.

The election was the first since an economic crisis two years ago, when soaring inflation of about 70% and shortages of everything from food to energy led to widespread unrest, which forced then-leader Gotabaya Rajapaksa to flee the country.

Dissanayake, 55, leads the National People’s Power, a coalition of leftist political parties and groups backed by protesters who ousted Rajapaksa. He’s gained support among voters angry at the country’s political elite — represented by candidates like the incumbent Wickremesinghe — who they blame for dragging the economy into a crisis.

Popularly known by his initials AKD, Dissanayake’s coalition has pledged to combat corruption within the government, scrutinize loan deals from countries such as China and renegotiate a $3 billion bailout loan from the International Monetary Fund.

Uncertainty about the election outcome has made investors nervous as they brace for possible delays in Sri Lanka’s debt restructuring plan and the disbursement of funds from the IMF.

Foreign Minister M U M Ali Sabry earlier offered his congratulations to Dissanayake. “Though I heavily campaigned for President Ranil Wickremasinghe, the people of Sri Lanka have made their decision, and I fully respect their mandate for Anura Kumara Dissanayake,” he said in a post on the X social media platform.