To avoid an impending default, the federal cabinet banned the import of roughly 41 products for two months on Thursday, but the solution looks to be insufficient, as it would only reduce the import cost by around $600 million, or less than 5% of expected imports.
Cars, phones, cosmetics, cigarettes, food, certain garments, and toiletries will all be affected by the ruling. After a series of talks at the Ministry of Finance and the Prime Minister’s Office, the federal cabinet accepted the summary to limit imports through circulation.
