Sri Lanka extends restrictions on outward remittances

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)

The post Sri Lanka extends restrictions on outward remittances appeared first on DailyNews.