Sri Lanka’s remittances fall sharply while remittances from other countries in the region rise!

Date:

The amount of dollars sent back to Sri Lanka by Sri Lankans working abroad is declining sharply. Sri Lanka is facing a severe dollar crisis and the crisis has been exacerbated by a drop in remittances.

A study by an independent research firm, Public Finance, has found that remittances are declining rapidly in Sri Lanka alone, while remittances from other countries in the central region are rising.

In 2021, the Maldives increased its remittances by 25.2%, Pakistan by 27% and the Philippines by 29.6%. Foreign remittances from Bangladesh increased by 1.5%.

However, remittances from Sri Lanka have declined by 22.7% in 2021 compared to 2020.

Share post:

spot_imgspot_img

Popular

More like this
Related

Sri Lanka’s Mounting Debt Trap: Women Bear the Hidden Cost

Sri Lanka’s household debt crisis is deepening as thousands...

Vehicle Market Hits Speed Bump as Imports Surge, Prices Fall

Sri Lanka’s once-booming vehicle market is showing clear signs...

Sri Lanka Reaps Global Support at WB/IMF Meetings

Sri Lanka secured a significant boost for its economic...

Sri Lanka’s Aviation Sector Takes Off Amid Steady Recovery

Sri Lanka’s aviation industry is regaining altitude after years...