COLOMBO, March 30 -- 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 effectivel...