Sri Lanka extends restrictions on outward remittances by 6 months
December 12, 2023 06:15 pm
Sri Lanka extended restrictions on outward remittances by six months to manage foreign exchange reserves, cabinet spokesperson and transport minister Bandula Gunawardane told reporters at a weekly cabinet briefing on Tuesday.
The nation’s central bank suspended permission to remit funds for overseas investments by Sri Lankan residents from mid-2020 except under certain conditions. The restrictions would be further extended for six months from Dec. 28.
Source: Reuters
--Agencies