Sri Lanka wins Commonwealth award for debt management
COLOMBO – Sri Lanka’s Treasury officials have received a Commonwealth award recognizing their innovation and contribution to public debt management, as the country continues efforts to restore fiscal stability.
According to the Commonwealth Secretariat, Sri Lanka was named the Asia-Pacific recipient of the Regional Debt Management Office Award for its work in restructuring public debt and steering it towards sustainable levels.
The award, part of the inaugural Commonwealth Public Debt Management Awards, also recognized debt management teams from Barbados and Tanzania for their contributions and innovation.
The Secretariat noted that Sri Lanka’s efforts included adopting new financing approaches to manage debt more effectively amid ongoing economic challenges.
Senior Director at the Secretariat, Ruth Kattumuri, commended the recipients for advancing sustainable debt practices and strengthening economic resilience in their respective countries.
Tanmaya Lal, Deputy Secretary-General (Programs), emphasized that effective debt management is critical, particularly for developing economies seeking to meet growing development needs.
The awards recognize initiatives that enhance public debt management systems, improve integration with broader government financial frameworks, and expand access to development financing.
Winners were selected by an independent panel based on criteria including innovation, resilience, and sustainability, following submissions from across Commonwealth member states.
The awards were presented in conjunction with the Commonwealth Public Debt Management Forum, which brings together officials for knowledge-sharing and discussions on evolving strategies for sustainable and inclusive debt management.
-ENCL
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