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Sri Lanka: Life after an economic crisis

Business Daily

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Sri Lankans Going Abroad Could Help Stimulate the Economy

Sri Lankans going abroad could also help boost the economy, because they may send more money back home in the form of remittances. Sri Lanka was the only South Asian country to suffer a reduction in remittances in 2021. What's really driving remittances and the drop-in remittances that Sri Lanka experienced through 2021 was not COVID, but the egregious foreign exchange policies that the previous government was following. When they kept the exchange rate fixed at 200 rupees to the dollar, when the black market rate was like 300 rupee to the dollar,. people were reluctant to send their remittances through official channels. Now, the new government has brought the exchange rate

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