Allowing rice, lentils and potatoes to be imported

Sri Lanka removes ban on open account food imports

Sri Lanka has lifted a ban on open account food imports allowing rice, lentils and potatoes to come freely to the island in the worst currency crises in the history of the island’s intermediate regime central bank.

Sri Lanka only needs about a 100 million US dollars a month for key food imports according to industry officials but a ban on open account imports in May threatened the country’s food supplies as the banks are unable to allocate foreign exchange on time for food, amid forex shortages driven by money printing.

Officials claim that lifting the ban will allow the produce to flow in.

Source: economynext.com


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