Public Debt Management Office

Background

The Public Debt Management Office (PDMO) was established and commenced operationalization on 02nd December 2024, following the enactment of the Public Debt Management Act No. 33 of 2024 (PDMA) on 18th June 2024 and declared effective on 25th November 2024. The PDMA provides the legal framework for the establishment of the operationally independent Public Debt Management Office (PDMO). This strengthens and centralizes the management of government debt, improves accountability and debt transparency by disseminating public debt related information and ensures the implementation of efficient and transparent borrowing practices, which are imperative for debt sustainability and the long-term fiscal health of the country.

 Vision

"To be a role model for public debt management in the global arena, recognized for trustworthiness, efficiency, and transparency.”

 Mission

“To strategically execute and oversee the Government's borrowing requirements, minimizing financing costs, and ensuring a prudent degree of risk in alignment with economic and fiscal objectives of Sri Lanka."

Objectives

* To meet financing needs and debt payment obligations on a timely basis.

* To borrow at the lowest costs as possible over the medium to long term, consistent with a prudent degree of risk.

* To promote the development of the domestic debt securities market.