IMF loan results in high cost of living - Opposition Leader

(April 03, Colombo, Sri Lanka Guardian) The government did not heed the UNP's advice and went ahead with a loan application from the IMF and a private internatonal commercial bank, in addition to the Hedging deal, and as a result, the cost of living for the average citizen has dramatically gone up, Opposition Leader Ranil Wickremesinghe said.

Mr. Wickremesinghe made these comments at a political rally held in Biyagama today in support of UNP Biyagama Organiser and candidate to the Western Provincial Council Ruwan Wijewardene.

"Electricity and water rates have gone up today. Milk powder prices in the world market has gone down, but we're not being allowed to enjoy the benefit of that. We had a future. Today the IMF is telling us to pay back the money we owe them. How are we going to pay back?" asked Mr. Wickremesinghe.

Speaking at the rally, Mr. Wijewardene said there was rampant corruption in the country, and that there was no media freedom, with journalists being forced to leave the country.

"Corruption and violence have spread throughout the country. There is no free media today. Journalists who reported these things are now abroad. The people of this country are aware of this. I too am a director of a newspaper institute. There is no media freedom," he said.

Seventeen factories of the Free Trade Zone have been shut down and businessmen are unable to make a profit, and nothing has been done about this for 13 years, he said.

"It was the UNP that carried out development work. I, together with Mrs. Mali Algama and Mr. Lal Balasinghe are taking this political journey. I request you to assist us. I am not contesting for the WPC today, not to become a leader. One must serve before one leads. I have come to Biyagama to serve its people," he added.

-Sri Lanka Guardian