(Commonwealth)_ Sierra Leone has made a significant move to enhance its financial management by implementing Meridian, an advanced software developed by the Commonwealth Secretariat. This platform is designed to improve the government’s ability to monitor, record, and manage its public debt more effectively. With real-time tracking of loans and repayments, Meridian aims to increase financial transparency, strengthen decision-making, and promote responsible debt management practices across key government institutions.
The adoption of this advanced system is a milestone in Sierra Leone’s efforts to modernize its public finance framework and improve accountability in managing national debt. The transition from the older Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) to Meridian highlights the government’s commitment to utilizing technology for better fiscal governance. The new software allows authorities to manage all aspects of public debt through a single, centralized platform, providing a comprehensive and streamlined approach to debt management.
To ensure a smooth implementation, the Commonwealth Secretariat organized a hands-on workshop in Freetown from February 17 to 28, 2025, which trained 30 debt officers from key government institutions such as the Ministry of Finance, the Central Bank of Sierra Leone, and the Accountant General’s Office. Funded by the African Development Bank (AfDB), the workshop equipped participants with essential skills to record, analyze, and manage different types of loans. The training also focused on transferring data from the old system to the new Meridian software and utilizing its advanced features, such as tracking government borrowing, monitoring repayments, and generating detailed financial reports.
Mathew Sandy, Director of Sierra Leone’s Public Debt Management Division, praised the software, stating that it would enhance efficiency by integrating all public debt portfolios into a single system. The web-based and user-friendly platform will promote collaboration among government institutions and stakeholders, fostering transparent and prudent debt management practices.
Sustainable public debt management is crucial for national development. Dr. Ruth Kattumuri, Senior Director of the Commonwealth Secretariat’s Economic, Youth, and Sustainable Development Directorate, highlighted the impact of debt management on the country’s ability to finance essential public services. She emphasized that through responsible borrowing and efficient debt management, the government could avoid excessive debt, ensuring sufficient funding for vital projects that improve people’s lives.
By leveraging Meridian’s data analytics and forecasting tools, Sierra Leone’s government will be better equipped to assess the impact of new loans on long-term financial stability, minimize debt risks, and align borrowing with national development priorities. This will contribute to reducing financial risks, strengthening economic resilience, and supporting Sierra Leone’s progress toward its Sustainable Development Goals (SDGs).
The upgrade to Meridian is part of a wider Commonwealth debt management initiative that provides technical support, policy guidance, and strategic debt management solutions to member countries. This initiative helps governments maintain fiscal discipline, negotiate favorable borrowing terms, and reduce the risk of unsustainable debt cycles.
Sierra Leone’s adoption of the Meridian software marks a significant advancement in public debt management, improving financial transparency, fiscal discipline, and economic planning. With the hands-on training provided by the Commonwealth Secretariat, government officials are now equipped to efficiently track loans, borrow responsibly, and make better financial decisions. This will play a vital role in safeguarding economic stability, promoting sustainable development, and ensuring a prosperous future for Sierra Leone and its citizens.
