Sri Lanka to establish National Debt Management Institute
September 26, 2023 12:13 pm
The Cabinet of Ministers has granted approval to draft the bill of the State Loan Management Act, for the establishment of the National Debt Management Institute.
In the supplementary budget of 2022, it was emphasized the importance of the establishment of a State Loan Management Institute as an institutional reformation while enhancing loan management and transparency was also recognized as a prioritized sector even under the appropriation loan facility of the International Monetary Fund (IMF), the Department of Government Information (DGI) said in a statement.
Meanwhile, technical assistance has been rendered by the IMF and the World Bank in order to establish the proposed state loan management institute while the loan management reformation plan, loan management institutional framework and legal framework have been planned now, according to the DGI.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the State Minister of Finance to direct the Legal Draftsman to draft the bill of the State Loan Management Act.
