Central Bank announces closure of Public Debt Department

The Central Bank of Sri Lanka (CBSL) has announced the closure of the Public Debt Department (PDD) and the transfer of the LankaSecure Division of the PDD to the Payments and Settlements Department (PSD), effective today (01).

The Public Debt Management Office (PDMO) was 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.

The PDMO became fully operational in December 2025 and 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, the CBSL said in a statement.

However, in terms of the relevant provisions of the PDM Act and the Central Bank of Sri Lanka Act, No. 16 of 2023, the CBSL will continue to operate the Scripless Securities Settlement System and the Central Depository System for government securities under PSD, effective today, with the Director of PSD appointed as Registrar of Government Securities, the statement added further.