Sierra Leone has implemented Meridian, a sophisticated debt management software developed by the Commonwealth Secretariat, to enhance the management of its public debt portfolio, currently valued at USD 1.08 billion.
This upgrade will enable the government to effectively track loans and repayments in real-time, improving financial transparency and strengthening decision-making processes.
The Commonwealth Secretariat, at the request of the Sierra Leonean government, conducted a two-week workshop in Freetown from February 17th to 28th, 2025. Funded by the African Development Bank, the workshop trained 30 debt officers from the Ministry of Finance, the Central Bank, and the Accountant General’s Office on the use of the new software.
Participants learned how to transfer debt data to Meridian and gained essential skills in recording, analyzing, and managing various types of loans. The workshop also provided training on utilizing the software’s features, including tools for tracking borrowing, monitoring repayments, and generating comprehensive financial reports.
Mathew Sandy, Director of Sierra Leone’s Public Debt Management Division, welcomed the implementation of Meridian, stating that the software will enable the recording and management of all public debt portfolios within a single system, improving efficiency and promoting transparency.
Dr. Ruth Kattumuri, Senior Director of the Secretariat’s Economic, Youth and Sustainable Development Directorate, emphasized the importance of sustainable debt management for a country’s ability to finance essential public services and achieve its Sustainable Development Goals (SDGs).
Meridian replaces the Commonwealth Secretariat: Debt Recording and Management System (CS-DRMS), which has been used by Sierra Leone since 1993. This upgrade represents a significant step forward in modernizing and strengthening the country’s public debt management capabilities.
ABJ/APA