The Commonwealth hosted a Public Debt Management Forum under the theme ‘Public Debt Management – Transition and Innovation’ at its headquarters in London on the 5th and 6th of June 2019.
The forum provided an opportunity for experience sharing and exchanging of views between public debt managers, experts from international organisations such as The World Bank, The International Monetary Fund, The Department for International Development and other agencies, on recent trends, developments, opportunities and challenges in public debt management.
Senior officials also saw the launch of a new state-of-art Commonwealth debt management system which will help countries to proactively manage their public debt portfolio, according to Secretary-General Patricia Scotland.
Meridian, a new web-based resource, is designed to help countries effectively manage their public debt.
In an interview with 7DNews, Pamella McLaren, Adviser and Head of the Commonwealth Debt Management Unit, said the launch of the new software is a proud moment for the Commonwealth. She explained: “Commonwealth Meridian is designed to capture all the debt that is in a country’s portfolio. In terms of policy makers they will know at a glance how much debt they have and what sectors they are borrowing for. These are very important indicators for policy makers.”
The new software builds on the successes of the Commonwealth’s ongoing debt management work. This includes advocacy, policy advice, training and capacity building initiatives and the current Commonwealth Debt Recording and Management System (CS-DRMS) which has been helping over 100 agencies including Ministries of Finance, Treasuries and Central Banks in 60 countries to manage more than USD 2.5 trillion of public debt.