The government is now negotiating with the International Monetary Fund on a bail-out package. The margin was imposed as a monetary policy measure in view of the expansion of money and credit aggregates, which caused pressure on the exchange rate and the balance of payments, the bank said in a statement.
"As a result of this and several other measures, the desired impact has already been achieved with reduced inflation and the deceleration of the monetary aggregates," the central bank said.
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"Accordingly, there is now no further need for such a policy in the framework for more relaxed monetary policy in the context of reduced inflation and more favourable inflation expectations outlook."
The government imposed several curbs on imports when a balance of payments crisis developed after September 2008, following an unsustainable dollar peg defence that drained reserves and encouraged capital flight.