Parliament passes Public Debt Management Bill: Semasinghe

Saturday, 8 June 2024 00:37 - - {{hitsCtrl.values.hits}}

State Minister of Finance Shehan Semasinghe confirmed that Parliament passed the Public Debt Management Bill yesterday.

Taking to ‘X’ yesterday, he highlighted the Bill’s significance for public debt management.

The newly passed Bill provides a comprehensive framework for managing public debt, including authorising borrowing, issuing, and servicing public debt on behalf of the Government.

Semasinghe noted that the Bill also facilitates issuing guarantees, on-lending, and entering into suppliers’ credit and financial lease agreements. A key feature of the Bill is the establishment of the Public Debt Management Office, which will oversee these activities and ensure effective management of the country’s debt.