Sri Lanka’s Public Debt Management Office (PDMO) has been named “Debt Management Office of the Year (Asia-Pacific)” at the Commonwealth Debt Management Award Ceremony held at Marlborough House, London, on 26 March, the Treasury said.
The award — presented alongside the Commonwealth Debt Management Forum held from 23 to 27 March — was secured within 15 months of the PDMO’s establishment under the Public Debt Management Act No. 33 of 2024, which consolidated a fragmented debt structure into a single statutory framework as part of Sri Lanka’s IMF Extended Fund Facility commitments.
Treasury Secretary Harshana Suriyapperuma said the recognition reflected Sri Lanka’s transition “from a fragmented and reactive system to a modern, strategy-driven framework anchored on transparency, accountability, and prudent risk management.” He credited the PDMO team, government support and international partners for the milestone.
Since the PDMO was set up on 2 December 2024, it has published a Medium-Term Debt Management Strategy and an Annual Borrowing Plan from February 2025, introduced Public Debt Management Regulations, and built a clear Front Office, Middle Office and Back Office structure with risk-based controls on government guarantees and on-lending.
A landmark institutional shift came in December 2025 when the PDMO assumed responsibility for conducting domestic government securities auctions from the Central Bank of Sri Lanka, which had performed that role for more than 75 years as the government’s agent.
A dedicated Investor Relations Unit has also lifted Sri Lanka’s standing with international creditors. The World Bank’s Debt Transparency Heatmap has recorded marked improvements across key indicators, while the Institute of International Finance reported a substantial rise in Sri Lanka’s global investor relations ranking in 2025.
The Treasury acknowledged continued support from the IMF, World Bank, Asian Development Bank, JICA and the Commonwealth Secretariat in sustaining the reform programme.
