Several Commonwealth countries are now equipped to use the Commonwealth’s new debt management software, following a two-week hands-on programme for officials in London.
Commonwealth Meridian is a web-based tool that helps governments manage public debt. With new and improved features, it replaces the Commonwealth’s flagship software tool CS-DRMS, currently used by more than 60 countries, including half of sub-Saharan Africa as well as non-Commonwealth members.
During the attachment, officials from Trinidad & Tobago, The Gambia, the Eastern Caribbean Central Bank (ECCB), Central Bank of Swaziland, and the Kenya National Treasury, were trained to deploy and maintain the Commonwealth Meridian system. They were joined by representatives from Development Finance International (DFI), the official distributor of the software outside the Commonwealth.
The training will also enable them to assist the Commonwealth Secretariat in rolling out the new system in other member countries, as well as support the delivery of technical assistance projects.
Speaking on behalf of the group, Mr George Kariuki from the Kenya National Treasury said: “We have indeed started the journey of being champions of Commonwealth Meridian and we can only look with great hope on how this new debt management tool will revolutionize our countries’ debt management.
“Gazing at the future and the ever evolving landscape of IT, Commonwealth Meridian has come at an opportune time and will stand out amongst other systems of this age as an unbeatable debt management tool. We commit to be part of its journey to the future”.