The US Treasury has lent an official to give technical expertise to start off the new Public Debt Management Office.
The Public Debt Management Office is due to take off next year, with officials reporting directly to the Finance Minister, said Treasury Secretary, Charitha Ratwatte.rn
rnTo give legal status to this office, the government plans to draft a comprehensive Public Debt Management Law.rn
rnThe governments public debt management is currently managed by the Central Bank under its Public Debt Department.rn
rnThe governments public debt system is getting a face lift next month, when the Central Bank launches an online scripless trading system.rn
rnThe traditional method of issuing a script for treasury bills and bonds will be replaced by an electronic script system. rn
rnPrimary dealers, the specialised institutions appointed by the Central Bank to trade gilt-edge securities at the primary market, will buy/sell government debt and settle inter bank transactions online starting from Sept. 8.rn