Sri Lanka remittances drop 15.6 percent in April; warning on Qatar

ECONOMYNEXT – Sri Lanka’s worker remittance flows dropped 15.6 percent to 487.9 million rupees in April, and the ongoing tension in Qatar may further hurt the sector, an official said.

Sri Lanka’s remittance has been weakening over the past year as oil prices fell in 2016 and departures to the Middle East slowed.

The crisis in the Persian Gulf involving Qatar would further pose a risk to remittances, Head of Central Bank’s Economic Research unit Y Indraratne said.

Worker remittances during the first four months of the year fell 6.3 percent to 2,221.7 million rupees, she said.
 

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