No decision taken to curtail vehicle imports – CBSL Governor

Neither the Central Bank of Sri Lanka (CBSL) nor the government has taken any decision to impose restrictions on vehicle imports at present, the Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has clarified while responding to recent media reports.

The Governor made this statement during a press briefing held at the CBSL today (23), following the announcement of the Central Bank’s monetary policy statement.

When inquired by Ada Derana business correspondent regarding recent reports suggesting that the government and the Central Bank were contemplating on imposing restrictions on vehicle imports, Dr. Weerasinghe asserted that the market will remain open and the Central Bank has not paid any attention to restrict imports. 

Dr. Nandalal Weerasinghe stated that the government also has no such intention, and he is of the view that the Subject Minister has made a statement indicating that there would not be a change in the decision to open the market for vehicle imports. 

He further noted that, while there is currently no move to impose restrictions, the Central Bank is mindful of potential risks. 

“From a macroprudential standpoint, it continues to monitor the stability of the financial system and the borrowers’ capacity to repay loans. In this context, certain adjustments have been made,” he added.