Sri Lanka extends restrictions on outward remittances by 6 months

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.

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The restrictions would be further extended for six months from Dec. 28.