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

Controversial Rs. 73 Billion Power Deal Sparks Conflict-of-Interest Allegations

Controversial Rs. 73 Billion Power Deal Sparks Conflict-of-Interest Allegations

Govt to Probe X-Press Pearl Legal Irregularities Amid Environmental Fallout

Govt to Probe X-Press Pearl Legal Irregularities Amid Environmental Fallout

Raw Material Ban Drains Sri Lanka’s Palm Oil based product Forex Earnings

Raw Material Ban Drains Sri Lanka’s Palm Oil based product Forex Earnings

U.S. Diplomat Eric Meyer tapped for Ambassadorial Post in Sri Lanka

U.S. Diplomat Eric Meyer tapped for Ambassadorial Post in Sri Lanka