Ranil for fresh IMF deal

United National Party (UNP) Leader Ranil Wickremesinghe said today that he would re-negotiate the stand-by arrangement of US$ 2.9 billion with the International Monetary Fund (IMF) and strike a separate deal if he comes to power at the April 8 General Election.

Outlining his policies for the economic development, Wickremesinghe told a news conference a short while ago that the country’s total debt had swelled against the total revenue.

“Our annual revenue is only Rs.705 billion. Nevertheless, the debt and interest payment is Rs.825 billion,” he said.