Debt managers from Barbados, Sri Lanka and Tanzania have won the inaugural Commonwealth Public Debt Management Awards in recognition of their contributions and innovation in managing public debt.
The winners were announced at a ceremony, hosted by the Commonwealth Secretariat on 26 March 2026 during the Commonwealth Public Debt Management Forum.
Winners
Barbados’ Debt Management Unit won the Regional Debt Management Office Award for the Caribbean for its work on debt-for-climate swaps. This approach allows the country to reduce its public debt in exchange for investments in local climate projects.
Sri Lanka received the Regional Debt Management Office Award for Asia-Pacific for its efforts to restructure public debt and bring it back towards sustainable levels, including through the use of new financing approaches.
Tanzania’s Debt Management Division won the Regional Debt Management Office Award for Africa, as well as the overall Commonwealth Debt Management Office of the Year Award. The awards recognise its work in strengthening how public debt is managed, including better integration with wider government financial systems and improved access to financing for development.
The winners were selected by an independent panel based on innovation, resilience and sustainability, following submissions from across Commonwealth countries.
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The awards ceremony was opened by Commonwealth Deputy Secretary-General (Programmes) Tanmaya Lal in the presence of high commissioners and representatives from ministries of finance, treasuries, development organisations and financial institutions. Tanmaya Lal said:
“Debt management is one of the most important national exercises, especially for countries of the Global South who are developing economies and have growing requirements to deliver development for their people.
“For over four decades, the Commonwealth Secretariat has supported member states in sustainable debt management, providing ongoing technical advice, expert input, and capacity building.”
Speaking after receiving the award, Antonino Inniss, Chief Debt Strategy Analyst, Debt Management Unit, Ministry of Finance in Barbados, said:
“Debt managers routinely go above and beyond to deliver the best solutions for our countries, fully aware of the long-term impact of every decision. Much of this work happens behind the scenes, with often there being little acknowledgment of the effort involved.
“Our teams are small, especially in the Caribbean, which makes our achievements even more remarkable. To be recognised by the Commonwealth Secretariat, a much valued and consistent partner on this journey is both humbling and deeply appreciated.”
In closing, Dr Ruth Kattumuri, Senior Director of the Secretariat’s Economic, Development, Trade and Investment Directorate, congratulated all the finalists and commended the debt officials for their sincere efforts to enable sustainable debt management and being engines for driving economic resilience in their countries.
She particularly commended the overall winner, Tanzania, for its reforms to strengthen public debt management, and reaffirmed the Secretariat’s continued support to the country in line with the outcomes of the 72nd Commonwealth Ministerial Action Group.
Commonwealth Public Debt Management Forum
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The week-long Commonwealth Public Debt Management Forum brings together debt managers from member countries for peer-to-peer learning, sharing experiences and exploring the latest thinking on how governments borrow, manage and repay public debt. This Forum also involved high-level panel discussions to discuss innovative policy frameworks for enabling sustainable and inclusive debt management.
Discussions focus on building a shared understanding of debt risks, supporting countries to develop and implement sound debt strategies, and strengthening partnerships to unlock sustainable financing.
Insights from the forum – which concludes on 27 March – will inform the delivery of support provided by the Secretariat to help countries strengthen public debt management policies and operations.
The forum is being organised as part of the Commonwealth Year of Resilient, Innovative and Sustainable Debt.
View photos from the Commonwealth Public Debt Management Awards
