Sri Lankan government has allowed apparel exporters to make payments to their foreign suppliers using their foreign earnings. Sri Lankan central bank has permitted to retain.
The Sri Lankan Central Bank, under new Governor Nandalal Weerasinghe, has nearly doubled the interest rates to tame high inflation amid protests across the country.
The cost of food will increase further because of crop failures caused by President Rajapakse’s import ban last April on chemical fertilisers and pesticides.
The Sri Lankan Central Bank presented the cabinet of ministers earlier this week a set of proposals to overcome the current foreign exchange and fuel shortages, local media reported.Governor of the Central Bank, Ajith Nivard Cabraal presented .