National Debt Management Agency to be set up

The interim budget announced by President Ranil Wickremesinghe yesterday proposed to set up a National Debt Management Agency (NDMA), as Sri Lanka tries to restructure its debt.
At present, the government debt management related activities are carried out by the Central Bank, External Resources Department, National Budget Department and the Treasury Operations Department.
“As it is important to pay special attention to the management of public debt, an independent National Debt Management Agency (NDMA) will be set up under the General Treasury in lieu of current arrangements in this respect,” President Ranil Wickremesinghe said in his budget speech. Sri Lanka defaulted on its sovereign debt in May, the first Asia-Pacific country to do so in more than two decades.