Dissanayake sworn in as Sri Lanka's new president

Sri Lanka's first leftist president was sworn into office on Monday vowing to restore public faith in politics but said he had no magic solution to the hardships suffered following an unprecedented economic crisis.

"I am not a conjuror, I am not a magician, I am a common citizen," he said after taking his oath in a nationally televised ceremony attended by diplomats, politicians and the military.

"I have strengths and limitations, things I know and things I don't... my responsibility is to be part of a collective effort to end this (economic) crisis."

Dissanayaka succeeds outgoing president Ranil Wickremesinghe, who took office at the peak of the financial crisis following the government's first foreign debt default and months of punishing food, fuel and medicine shortages.

His policies ended the shortages and returned the economy to growth but left millions struggling to make ends meet.

Work with other nations

Dissanayaka also said he wanted international support to rebuild the economy.

"We are not a nation that should be isolated," he said.

"Regardless of the power divisions in the world, we intend to work with other nations to benefit our country."

India and China — Sri Lanka's biggest neighbour and largest bilateral creditor respectively — are competing for influence in the island nation, strategically situated on global east-west sea routes.

Indian Prime Minister Narendra Modi said he looked forward to working closely with Dissanayaka to "strengthen our multifaceted cooperation for the benefit of our people and the entire region".

Chinese President Xi Jinping said he hoped to work with the new president "to continue our traditional friendship (and) enhance mutual political trust".

Legacy of violence

Dissanayaka gained popularity after pledging to change the island's "corrupt" political culture.

"I am fully aware of the composition and size of the mandate I received," he said. "It is my responsibility to earn the support and confidence of those who did not vote for me or place their trust in me."