Vehicle Import Restrictions – Central Bank Clarification

25-Jul-2025

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On July 24, Central Bank Governor Dr. Nandalal Weerasinghe clarified that neither the Central Bank nor the government has made any decision to impose restrictions on vehicle imports. 

The market remains open. The Monetary Board decided to maintain the current policy interest rate at 7.75% in light of both domestic and global economic conditions.

He indicated that the country’s inflation rate is expected to stabilize around 5%, and the economy grew by 4.8% in Q1 2025. 

Interest rates are gradually declining, reflecting positive monetary policy transmission. 

However, the Central Bank is closely monitoring global geopolitical and economic developments due to rising uncertainties.