Public Debt Management
In terms of Section 113 of the Monetary Law Act, the Central Bank of Sri Lanka (CBSL) is responsible for the management of the public debt as the Agent of the Government. Accordingly, the Public Debt Department (PDD) of the CBSL on behalf of the Government issues debt instruments and handles all matters relating to servicing the domestic and foreign debt of the Government .The Ministry of Finance handles the matters relating to obtaining loans from the foreign sources.
The objective of debt management is to ensure that the government’s financing needs are met at the lowest possible cost consistent with a prudent degree of risk, and developing and strengthening the government securities market, while enhancing efficiency and maintaining stability. Although the strategic objective to be pursued in government debt management has not been made explicit by any law in Sri Lanka, it is implicitly understood that debt management should be carried out in such a way as to:
Public Debt Management 2011 |
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