Forex crisis: CBSL appeals to SL’s migrant community
8 months ago
While thanking Sri Lanka’s migrant community for their contributions made to the country’s economy, the Central Bank of Sri Lanka (CBSL) in a statement has urged them to continue using formal channels when sending their earnings back home. “The remittances sent by the migrant community provides the economy with a significant inflow of foreign currency that could be used for our transactions with the rest of the world. This is particularly important now as access to foreign financing has been curtailed leading to shortages in essential commodities and medicine,” the statement mentions. It was further explained that the foreign currency remitted by migrants through formal channels for any purpose will help the country in carrying out international forex transactions to fulfil the essential needs of Sri Lanka such as Fuel, gas, medicine and food.