Cabinet approval has been received for establishing a public debt management agency. The 2022 Interim Budget has emphasized the importance of establishing an independent public debt management agency as an institutional reform and enhancing debt management and transparency has also been identified as a priority area under the International Monetary Fund‘s Extended Credit Facility.
The government says that the International Monetary Fund and the World Bank have also provided technical support for the establishment of the proposed Public Debt Management Institute. The government also says that after discussions with the relevant stakeholders, the debt management reform plan, the debt management institutional framework and the legal framework have been planned.
Accordingly, the Council of Ministers has approved the proposal presented by the Acting Monetary Economic Stabilization and National Policy Minister to advise the law drafter to prepare the Public Debt Management Bill. (Lankadeepa)