The observance coincides with the 40th anniversary of the Commonwealth Debt Management Programme, established to strengthen governments’ capacity to manage public debt without compromising their development goals.
2025 year of sustainable, inclusive debt action
Public debt is rising faster than ever. In 32 Commonwealth countries, debt exceeds 60 per cent of national income, meaning a significant share of the economy is tied to liabilities and debt service costs are sizable. Meanwhile, climate change is driving up borrowing costs. Inevitably, people bear the brunt through cuts to education, healthcare, social protection and climate change measures.
Against this backdrop, the observance seeks to spotlight the root causes of the debt challenges amid growing global tensions. It aims to drive discussions - and decisions - on what must change to help countries escape debt traps:
- Fairer access to financing
- Deepening and diversifying into domestic debt markets
- Stronger frameworks for debt transparency and borrowing
- Information Technology investment for smarter debt management
- Stronger partnerships in debt management technical assistance
Throughout the year, the Commonwealth will host a series of dialogues to share experiences and solutions that can help governments better manage public debt while continuing to invest in development.
Commonwealth debt management programme
Since 1985, the Commonwealth Debt Management Programme has been strengthening policy, legal and institutional frameworks to help countries manage public and publicly guaranteed debt.
The programme’s core objective is to help countries achieve sustainable debt, reduce long-term debt servicing costs and minimise the risks of debt distress.
Support includes:
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Advisory support: On-demand assistance to help countries develop, implement and evaluate sound debt management strategies aligned with national development plans.
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Commonwealth Meridian: A user-friendly system that has been helping 45 governments, including 41 Commonwealth countries, securely record, monitor and report public debt with greater transparency and accuracy. Find out more
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Debt Transparency: Promoting sound legal and institutional frameworks that underpin effective debt management practices and systems which support comprehensive and accurate debt recording, analysis and reporting.
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Capacity-building: A suite of face-to-face and eLearning training, research and learning opportunities to equip debt managers with the skills to improve data quality, manage liabilities and improve institutional performance.
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Access to financing: Targeted programmes to help developing countries access financing through the Commonwealth Climate Finance Access Hub and advocacy for the reform of the global financial system.
Contact
To participate, please contact [email protected]
Social media
Join the conversation on social media using #DebtForDevelopment and tagging @commonwealthsec