Monday, May 8, 2017

IN-111logoMonday, 8 May 2017

Making exchange control a permanent law

In parts one and two of this series (available respectively at: and, it was presented that the colonial rulers introduced exchange controls to Sri Lanka in 1939 as a war strategy during the World War II. The objective was to prevent the foreign exchange resources of the colony from falling into the hands of the enemy, namely, the Germans and the Japanese. Thus, exchange controls were expected to be a temporary measure and to be lifted at the end of the war.