Feb 09, 2018

Central Bank insists Sri Lanka’s debt mgmt. is intact

CBSL compiles and publishes Central Government debt based on its database on issuance of domestic debt and international commercial borrowings on behalf of the Government and also the information it receives from the Ministry of Finance (MoF) and External Resources Department (ERD) of the Ministry of National Policies and Economic Affairs. 
It regularly and closely coordinates with MoF and ERD towards the accuracy of its published debt statistics and in this connection it also has the accessibility to the debt recording system maintained by ERD. 
Further, in compilation and servicing of Central Government debt, CB uses its own recording systems with respect to domestic and international commercial borrowings. Government debt so compiled by CB has been reviewed and accepted by international agencies including the International Monetary Fund. 
Also, CB emphasized that to-date; the Government has maintained an unblemished record of debt servicing made in accordance with service payment obligations recognized through debt recording systems. 
Further, towards prudent management of Government debt portfolio, a debt management strategy is being formulated by CB for implementation and it is also in the process of streamlining debt servicing liabilities with the passage of Active Liability Management Act.