Sri Lanka lifted import restrictions on 286 items, the Finance Ministry said on Saturday, a fresh sign the South Asian nation is starting to emerge from its worst economic crisis in decades.
The island off India's southern coast plunged into crisis last year as its foreign exchange reserves ran out. The government limited imports on more than 3,200 items, including seafood, electronics, and even musical instruments.
Sri Lanka's reserves grew 26% to a 17-month high of $3.5 billion in May, helped by stronger remittances and tourism earnings. The currency has risen about 24% this year, central bank data showed. Restrictions on 928 items will continue, including vehicle imports, which were banned in March 2020, the statement said.
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