Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal says he does not want to keep the existing import restrictions for a lengthy period.
Governor Ajith Nivard Cabraal said he is mindful of the impact the import restrictions will have on attracting foreign investors to the country and the overall confidence in the economy.
Governor Ajith Nivard Cabraal made these observations during a discussion with Bloomberg.
The CBSL Governor noted however he cannot disregard the existing foreign exchange crisis and noted that he is taking steps to prevent the Rupee from depreciating.
He said a weaker Rupee will have an impact on debt payments. Governor Ajith Nivard Cabraal said although steps have been taken to restrict imports of non-essential items considering the prevailing climate, he assured that restrictions will be relaxed gradually.
The Governor of the Central Bank, Ajith Nivard Cabraal also noted that he is keen to provide a clear message to the market and create economic stability in the country.
Governor Cabraal stressed that he will unveil a new roadmap as to how the economy will be steered forward.
He also claimed that he is not in favour of lengthy lockdowns which will impact the economy severely.
Ajith Nivard Cabraal said as the Governor he will work towards managing the expectations of various stakeholders.
Governor Ajith Nivard Cabraal added that through the roadmap he aims to address the current debt and foreign exchange crisis and create stability in the country.