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Message: <blockquote data-quote="Hasitha22" data-source="post: 26905430" data-attributes="member: 578477">Sri Lanka’s ACL Cables Plc is finding it difficult to import raw materials from abroad because banks were rationing foreign exchange, customers were told amid the worst money printing in the country’s central bank history.“Due to the current shortage of foreign currency at the banks, we are finding it difficult to source adequate quantities of raw materials from overseas supplies,” the firm said in a letter addressed to ‘valued stakeholders’.The forex rationing by banks “will result in a short supply of materials very soon and we see signs of shortage since stock raw materials are hardly sufficient to meet the demand in the next two month,” the firms said.Sri Lanka’s central bank ratcheted up money printing from around February 2020, under the current administration’s Saubhagya framework driving the rupee down from 182 to the US dollar to 230 in the over-the-counter market.<a href="https://economynext.com/sri-lanka-money-printing-hits-cable-maker-raw-materials-86307/" target="_blank">Economynext</a>[ATTACH=full]144807[/ATTACH]</blockquote>

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