The Central Bank of Sri Lanka (CBSL) is confident in its ability to manage foreign reserves as the government gradually relaxes vehicle import restrictions, according to Governor Dr. Nandalal Weerasinghe. Speaking to the media on Tuesday, Dr. Weerasinghe said that the gradual easing of vehicle import restrictions is a significant decision, affirming the CBSL's capacity to handle the impact on foreign reserves.

The vehicle import ban, imposed during the economic turmoil triggered by the COVID-19 pandemic in 2021/2022, aimed to preserve foreign currency reserves. With the situation stabilizing, the government has begun permitting vehicle imports for specific sectors since 2023, prioritizing areas such as health and tourism.

Dr. Weerasinghe reiterated that while the relaxation of import restrictions is a government policy decision, the CBSL is prepared to manage the transition effectively, ensuring economic stability.