Government officials from Fiji, Papua New Guinea, Samoa, the Solomon Islands, Tonga, and Vanuatu have completed special training to handle their country’s debts using a system called Commonwealth Meridian.
The Commonwealth Secretariat teamed up with Fiji’s government to hold a workshop in Nadi from February 28 to March 8, 2024. This workshop was meant to teach officials from finance ministries and central banks how to record, handle, and report on different types of debts using Meridian.
During the training, officials learned how to move their debt records to the new system and talked about making sure the data is accurate and reliable.
Sisilia Nalaide, who leads Fiji’s Debt Management Team, spoke at the workshop. She said Meridian is a modern system with better features and uses the latest technology. Meridian, introduced in 2019, is replacing the old Commonwealth Secretariat: Debt Recording and Management System (CS-DRMS), offering more options and allowing access to debt data in real-time.
This system helps debt managers keep a close eye on what their country owes, make smart decisions based on evidence, and ensure the country’s financial needs are met safely.
Dr Ruth Kattumuri from the Commonwealth Secretariat emphasized the importance of managing debt sustainably, especially for small island nations in the Pacific that face extra challenges due to climate change.
John Robert Simelum, who manages Vanuatu’s Debt Management Office, praised the workshop. He said it came at the right time because many countries are dealing with debt issues after COVID-19. He believes Meridian will help manage debt better and make financial reporting more efficient in Vanuatu.
Dr Raymond Prasad from the Commonwealth Secretariat said they’re committed to helping member countries reach their goals, including managing debt better with tools like Meridian.
Meridian is now being used in 39 countries.
[original text by Commonwealth]
