Dialogue on SL’s new Public Debt Management Framework
View(s):The Association of Primary Dealers recently hosted a panel discussion titled “The Future of Public Debt Management in Sri Lanka”at the Galle Face Hotel, bringing together senior professionals from across the financial sector to examine the implications of the newly enacted Public Debt Management Act No. 33 of 2024.
The event featured leading voices including President’s Counsel Harsha Fernando, Ms. Udeni Udugahapattuwa (Director General of the Public Debt Management Office), N.D.Y.C. Weerasinghe (Superintendent of Public Debt, Central Bank of Sri Lanka), and Naomal Goonewardena (Precedent Partner, Nithya Partners), with Thilina Panduwawala, Senior Macroeconomist at Frontier Research being the moderator.
The panel offered a critical analysis of the Act’s reforms, including the establishment of the Public Debt Management Office, the requirement for a five-year rolling debt strategy, and enhanced transparency through mandated auctions, borrowing plans, and public disclosure of terms for debt and guarantees.
These reforms were widely acknowledged as vital to improving accountability, operational efficiency, and risk governance in public debt management, the association said in a media release.
“As the industry moves toward greater transparency and sophistication, the Association of Primary Dealers remains committed to hosting knowledge-sharing forums of this nature and to playing an active, constructive role in shaping the future of Sri Lanka’s financial markets and public debt landscape,” said Romesh Gomez, President of the Association of Primary Dealers.
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