Sri Lanka bans import of 300 items of consumer goods to stabilise economy – Earnicle

Sri Lanka has slapped a ban on the import of 300 shopper gadgets like goodies, perfumes and shampoos as a part of the cash-strapped island nation’s bid to deal with its worst financial disaster triggered by the scarcity of overseas alternate.

Sri Lanka goes by its worst financial disaster since its independence in 1948. The worsening foreign exchange disaster prompted important gadgets shortages triggering huge public protests on the street since early this 12 months that led to the ouster of the Gotabaya Rajapaksa government final month.

In a particular notification issued by the Sri Lankan Finance Ministry, the ban was imposed on a complete of 300 gadgets together with goodies, perfumes, make-up and shampoo amongst a number of different merchandise.

“Below imports and exports management rules dated August 22 an import ban on a variety of shopper gadgets from meals to equipment has come into speedy impact,” the notification stated.

Nonetheless, these things if shipped earlier than August 23 and arrive within the nation earlier than September 14 would nonetheless be allowed, it said.

In mid April, Sri Lanka declared its worldwide debt default because of the foreign exchange disaster.

The island nation is determined for an Worldwide Financial Fund (IMF) bailout and talks for a staff level agreement commenced in Colombo on Wednesday.

Sri Lanka’s central bank governor Nandalal Weerasinghe has expressed hope that the IMF facility could be made accessible by the 12 months’s finish.