Sri Lanka aims to boost foreign reserves to $15.1B by 2028, easing vehicle import restrictions.

Sri Lanka's President Anura Kumara Dissanayake announced plans to boost foreign exchange reserves to $15.1 billion by 2028, including agreements with the IMF to adjust taxes. Starting February 1, 2025, personal vehicle imports will be allowed, following the recent lifting of restrictions on importing passenger buses and special-purpose vehicles. The moves aim to stimulate the economy while managing foreign exchange outflows.

3 months ago
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