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SRI LANKA: Non-Essential Imports Restricted in Bid to Bolster Rupee

Any retailer looking to secure letters of credit with banks in order to facilitate the import of certain non-essential consumer items (including mobile phones, refrigerators, washing machines, air conditioners and televisions) must first be able to demonstrate a 100% operational cash flow margin. The move comes as the government looks to reduce overall import levels in order to reduce pressure on the Sri Lankan Rupee.

Content provided by Picture: HKTDC Research
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