The Central Bank of Sri Lanka (CB) has closed the Public Debt Department (PDD) on January 1, in line with a previously agreed decision.
It also transferred the LankaSecure Division of PDD to the Payments and Settlements Department (PSD).
A statement said the Public Debt Management Office (PDMO) has been established within the Ministry of Finance, Planning and Economic Development (MoF) under the Public Debt Management Act No. 33 of 2024 (PDM Act) in December 2024, and became fully operational in December 2025. This unit has assumed full responsibility over the debt management functions previously carried out by PDD. This transfer was effected in view of strengthening institutional accountability and enhancing the efficiency and transparency of Sri Lanka’s debt management framework.
However, in terms of the relevant provisions of the PDM Act and the Central Bank of Sri Lanka Act, No. 16 of 2023, the CB will continue to operate the Scripless Securities Settlement System and the Central Depository System for government securities under PSD, effective from January 2026, with the Director of PSD appointed as Registrar of Government Securities, the CB added.
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