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Central+Bank+clarifies+misunderstandings+on+public+debt
Friday, 09 February 2018 - 10:26
Central Bank clarifies misunderstandings on public debt
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The Central Bank says towards a prudent management of Government debt portfolio, a debt management strategy is being formulated by them for implementation and it is also in the process of streamlining debt servicing liabilities with the passage of Active Liability Management Act.
 
The Central Bank said that the Government of Sri Lanka has maintained an unblemished record of debt servicing made in accordance with service payment obligations recognized through debt recording systems.
 
The regulator rejected accusations by various parties that neither government nor Central Bank does not know exact numbers related to country’s debt stock.
 
It said that the CBSL compiles and publishes Central Government debt based on its database on the issuance of domestic debt and international commercial borrowings on behalf of the Government and also the information it receives from the Ministry of Finance and External Resources Department of the Ministry of National Policies and Economic Affairs.
 
The CBSL said that 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, CBSL uses its own recording systems with respect to domestic and international commercial borrowings.
 
Central Government debt compiled by CBSL has been reviewed and accepted by international agencies including the International Monetary Fund.
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