Sri Lanka to restrict fuel imports for next 12 months due to shortage of foreign exchange

Sri Lanka has been grappling with a lack of essentials for months, after its foreign exchange reserves ran dry because of economic mismanagement and the impact of the COVID-19 pandemic

Sri Lanka will restrict fuel imports for the next 12 months because of a severe shortage of foreign exchange, its energy minister said on Monday, as the island nation’s new government seeks to find a way out of a crippling economic crisis.

The rationing system is among the first steps that Sri Lanka’s new President Ranil Wickremesinghe will take to ease the impact of the crisis after taking office last week following a victory in a parliament vote. However, public sector employees have been asked to continue working from home for one more month, the government said in a circular issued on Sunday.

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