The Central Bank of Sri Lanka has announced the closure of the Public Debt Department (PDD) and the transfer of the LankaSecure Division from the PDD to the Payments and Settlements Department (PSD), effective January 1, 2026. This restructuring aims to enhance institutional accountability and improve the efficiency and transparency of Sri Lanka’s debt management framework, according to a statement from the Central Bank of Sri Lanka (CBSL).

The establishment of the Public Debt Management Office (PDMO) within the Ministry of Finance, Planning and Economic Development (MoF) was formalized under the Public Debt Management Act No. 33 of 2024 (PDM Act) in December 2024. The PDMO became operational in December 2025, taking over the debt management functions previously handled by the PDD.

In line with the provisions of the PDM Act and the Central Bank of Sri Lanka Act No. 16 of 2023, the CBSL will continue to manage the Scripless Securities Settlement System and the Central Depository System for government securities under the PSD. This transition will take effect on January 1, 2026, with the Director of PSD appointed as the Registrar of Government Securities.

(Colombo/Jan1/2025)