CBSL winds down Public Debt Department as FinMin unit takes over

The Central Bank of Sri Lanka (CBSL) yesterday announced the closure of the Public Debt Department (PDD) and the transfer of the LankaSecure Division of the PDD to the Payments and Settlements Department (PSD), effective from today, January 1, 2026. 
The Public Debt Management Office (PDMO) was established within the Finance, Planning and Economic Development Ministry, under Public Debt Management Act No. 33 of 2024 (PDM Act), in December 2024. The PDMO became fully operational in December 2025 and assumed full responsibility over the debt management functions previously carried out by the PDD.
“This transfer was effected in view of strengthening institutional accountability and enhancing the efficiency and transparency of Sri Lanka’s debt management framework,” the CBSL said in a statement. 
However, in terms of the relevant provisions of the PDM Act and Central Bank of Sri Lanka Act No. 16 of 2023, the CBSL said it would continue to operate the Scripless Securities Settlement System and Central Depository System for government securities under the PSD, effective from January 1, 2026, with the Director of PSD appointed as Registrar of Government Securities.