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Temporarily Banned Smartphone Importation in Sri Lanka
The Central Bank of Sri Lanka said overseas investments by local firms would be suspended for six months.
The amount of capital that companies and citizens can take out of the island nation would also be restricted, it added. Sri Lanka has already banned imports of luxury goods and cars since in 2020 to combat the foreign currency outflows.
The government is planning to extend the import ban to mobile phones, computers and electronic consumer goods, local media reported recently.
The central bank said in a statement that the restrictions were to "assist and maintain the financial system's stability."
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