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Desperate measures by Sri Lankan govt to attract US$ remittances – But will it work?

Experts have pointed out that Sri Lanka’s Central Bank decision to award an extra Rs. 10/- per 1 US$ worker remittance would cost the state coffers Rs. 8 billion. Chairman of the Advocata Institute Murtaza Jafferjee said this cost will have to borne by the cash-strapped government’s central bank, and warned that this measure will reduce government revenue.

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