Colombo, Jul 26 (IANS): Sri Lanka has set the crucial Presidential election for September 21, the Election Commission announced on Friday morning.

The gazette notification relating to the poll to elect the next President was published, the Government release said.

Nominations are called on August 15 and the election of the next President is crucial for the Indian Ocean island's recovery from the worst-ever economic crisis, which is being backed by the International Monetary Fund (IMF) led debt restructuring deal.

The major creditors, including India, Japan and Paris Club countries supported the IMF deal which included debt moratorium and delay of repayment.

The main Opposition leader Sajith Premadasa, who broke away from current President Ranil Wickremesinghe's United National Party (UNP) and Marxist party National People's Power (NPP), Anura Kumara Dissanayake, have announced their candidatures among the next possible Presidents to be elected.

The current President Ranil Wickremesinghe is yet to announce his decision on contesting while former President Mahinda Rajapaksa's party, Sri Lanka Podujana Peramuna (SLPP), which has been backing Wickremesinghe's government is undecided whether to continue to support the present President or field their candidate.