The Central Bank of Sri Lanka (CBSL) has announced the closure of its Public Debt Department (PDD), with effect from today (01), marking a significant restructuring of the country’s public debt management framework. As part of the transition, the LankaSecure Division previously operating under the PDD has been moved to the Central Bank’s Payments and Settlements Department (PSD).
The change follows the establishment of the Public Debt Management Office (PDMO) within the Ministry of Finance, Planning and Economic Development under the Public Debt Management Act No. 33 of 2024. The PDMO, which became fully operational in December 2025, has now taken over all debt management responsibilities that were earlier handled by the CBSL’s PDD.
According to a statement issued by the Central Bank, the transfer of functions is aimed at improving institutional accountability while enhancing efficiency and transparency in the management of Sri Lanka’s public debt.
The CBSL noted that, in line with provisions of the Public Debt Management Act and the Central Bank of Sri Lanka Act No. 16 of 2023, it will continue to operate the Scripless Securities Settlement System and the Central Depository System for government securities. These functions will be carried out under the Payments and Settlements Department, with the Director of the PSD appointed as the Registrar of Government Securities, effective from today.
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