Central Bank Governor Ajith Nivard Cabraal said today that the lifting of the ban on vehicle imports could be considered on the basis of foreign exchange inflows into the country after the resumption of tourism as usual. He was speaking at a conference organized by the International Chamber of Commerce Sri Lanka.
Responding to a question raised at the session, the Governor of the Central Bank said that the current financial crisis in the country was largely dependent on domestic solutions and that in the future the use of credit instruments such as international sovereign bonds would be subject to certain restrictions.
He also said that a policy has been adopted not to borrow from international sovereign bonds in excess of 10 percent of GDP and that inter-government credit facilities would be considered in resolving the foreign exchange crisis. He said Sri Lanka had not yet become a debt defaulter and hoped to manage the situation in the future as well.
He said the government was currently successfully injecting Covid and hoped that in the face of this situation, the country would soon be able to open up to tourism and export-oriented industries to return to normalcy.
