Restrictions on outflow of foreign exchange to remain till June 2021

Wednesday, 2 December 2020 02:32 - - {{hitsCtrl.values.hits}}

Cabinet nod to extend validity period of restrictions for 6 months from January 2021

The restrictions imposed on the outflow of foreign exchange from the country will be extended for a period of six more months.

A proposal by Prime Minister Mahinda Rajapaksa, in his capacity as the Minister of Finance to extend the restrictions for six more months from 2 January 2021 onward was approved by Cabinet on Monday.

The period of validity of the Gazette notification imposing the regulations was issued on 2 July 2020 will end on 1 January 2021.

The regulations were issued under Section 22 of the Foreign Exchange Act No. 12 of 2017 imposing limitations of capital transactions causing flow of foreign exchange out of the country.

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