Sri Lanka cenbank governor says remittances have dropped over past 6 months

COLOMBO, Dec 4 (Reuters) - Sri Lanka's top central bank official on Saturday said remittances have dropped over the past six months, prompting authorities to examine if the sudden drop in foreign cash inflow was linked to the use of any illegal channels for transactions.

Ajith Nivard Cabraal, the governor of the bank, told reporters that he has seen a $300 million drop in remittances in just the last month and added that officials will with local banks to ease and fast-track the cash inflows.

Earlier this month Cabraal told Reuters that Sri Lanka aims to shore up its shrinking reserves over the next few months from a range of sources including bilateral swaps, government-to-government loans and the securitisation of remittances to bolster investor sentiment and ensure timely debt servicing.
Reporting by Uditha Jayasinghe, Writing by Rupam Jain, Editing by Shri Navaratnam

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