Home / Front Page/ CB offers clarification on Govt. debt recording

CB offers clarification on Govt. debt recording


Comments / {{hitsCtrl.values.hits}} Views / Friday, 9 February 2018 00:00


The Central Bank yesterday issued a clarification on media reports on Government debt recording and maintenance of accounts published yesterday based on comments by Auditor General Gamini Wijesinghe. 

It said the Central Bank 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 (ERD) of the Ministry of National Policies and Economic Affairs. 

The Central Bank regularly and closely coordinates with the Ministry of Finance and ERD over the accuracy of its published debt statistics and in this connection it also has access to the debt recording system maintained by ERD. 

Further, in the compilation and servicing of Central Government debt, the Central Bank uses its own recording systems with respect to domestic and international commercial borrowings. Central Government debt, so compiled by the Central Bank, has been reviewed and accepted by international agencies including the International Monetary Fund.

In addition, the Central Bank wishes to emphasise that to date the Sri Lankan Government has maintained an unblemished record of debt servicing made in accordance with service payment obligations recognised through debt recording systems.

Further, towards prudent management of the Government debt portfolio, a debt management strategy is being formulated by the Central Bank for implementation and it is also in the process of streamlining debt servicing liabilities with the passage of the Active Liability Management Act.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Identifying traitors: I cannot wait until Dr. Padeniya presents his point scheme

Tuesday, 21 August 2018

Cause for excitement I am excited! A way of identifying and measuring a traitor is soon to be unveiled; by no less than the President of the GMOA! Hasn’t he also qualified in some department of neurology? All the more reason to justify my excitemen


The evils of translocating wild elephants

Tuesday, 21 August 2018

The subject of translocating wild elephants has been a much-debated topic recently, after the Department of Wildlife Conservation (DWLC), acting on the orders of the Minster for Wildlife, wanted to move the only two wild elephants habituating the Sin


Climate scientists cheating us to a $ 12 b/year economic loss in 2050

Monday, 20 August 2018

Local news media carried the disturbing pronouncement by World Bank economists to the effect that Sri Lanka will become an extremely hot territory with 30C temperature rise and $ 12 billion per year economic loss by 2050.


Singapore miracle – How SL could benefit from trade with Singapore

Monday, 20 August 2018

According to a media report released by President’s Media Division, a committee of experts has been appointed by the President to examine and report on ‘the practical impact and use of the proposed officer policy guidelines and recommendations on


Columnists More