In a transfer to strengthen public debt administration and improve financial resilience, 33 public debt managers from 16 Caribbean nations gathered in Jamaica for a two-week intensive workshop centered on enhancing debt information high quality and transparency.
Officers from the Jap Caribbean Central Financial institution and the UK Abroad Territories within the Caribbean additionally participated within the coaching, which was held from 19 to 30 Might 2025. The workshop was co-organised by the Commonwealth Secretariat and the Worldwide Financial Fund (IMF), with help from the UK Overseas, Commonwealth and Growth Workplace.
Whereas debt usually carries a damaging connotation, when managed properly, it permits governments to put money into initiatives that enhance lives and construct financial resilience.
On the coronary heart of the coaching was Commonwealth Meridian, a web-based debt administration software program utilized by all however one of many taking part nations. Delegates acquired hands-on coaching within the software program’s newest options, geared toward making debt information extra dependable and accessible to construct belief with collectors, buyers, and residents.
“The hands-on Meridian coaching was very helpful as my nation is presently transitioning to Meridian,” mentioned Kizzy Clarence, from Grenada’s Ministry of Finance. “The coaching will assist me enhance the information high quality of my reporting. With out this technical help, it might be quite troublesome to carry out the required debt features.”
Theodora Andrews, from the Central Financial institution of Belize, added: “The workshop highlighted simply the correct subjects and points we will apply in our debt administration workplace to enhance processes and reporting requirements for all our stakeholders.”
In his opening remarks, Thordur Jonasson, Deputy Division Chief within the IMF’s Financial and Capital Markets Division, highlighted the evolving function of debt managers as strategic companions in advancing debt transparency and information high quality, stressing that their work is essential to prudent debt administration and policymaking.
Becoming a member of just about, Dr Ruth Kattumuri, Senior Director of the Financial, Growth, Commerce and Funding Directorate on the Commonwealth Secretariat, mentioned:
“In a area affected by extreme impacts of local weather change yearly, the place pure disasters can set off fiscal misery, debt transparency performs a vital function for sustaining belief with residents, collectors and growth companions.
“It reinforces accountability and allows extra strategic and data-driven borrowing choices that help financial resilience for nations with their restoration plans amid fiscal challenges.”
Dr Kattumuri additionally famous that the Commonwealth’s debt administration programme has been supporting nations for 40 years and this milestone is being noticed this 12 months by the Commonwealth 12 months of Resilient, Modern and Sustainable Debt.
Specialists from the Commonwealth Secretariat, IMF, the World Financial institution, and the Caribbean Growth Financial institution led the coaching, sharing finest practices and insights to assist nations align debt administration with nationwide growth objectives.
