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Sri Lanka extends freeze on outward capital transactions by 6 months

© Reuters. FILE PHOTO: A worker cleans a hotel’s window, as a national flag waves at a seafront tent camp that became the focal point of months-long nationwide demonstrations, as the deadline police asked protesters to leave the camp is approaching, amid the country

COLOMBO (Reuters) – Sri Lanka’s government has decided to extend a restriction on outward capital transactions by six months due to pressure on its limited foreign exchange reserves, cabinet spokesperson Bandula Gunawardena said on Tuesday.

The decision will be revisited after debt talks are finalised in September, added Gunawardena, who is also the transport minister of the island country.

Source: Investing.com

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