Sri Lanka’s parliament on Thursday approved a new law to improve the independence of the country’s central bank, the deputy speaker said, as part of reforms linked to a $2.9 billion International Monetary Fund bailout package.
Economic mismanagement coupled with the impact of the COVID-19 pandemic left Sri Lanka severely short of dollars for essential imports at the start of last year, tipping it into its worst financial crisis since independence from Britain in 1948.
Read More : Sri Lanka’s Parliament Passes Bill to Enhance Central Bank’s Autonomy