Govt. to deploy Commonwealth Meridian public debt management system

Thursday, 28 August 2025 03:53 - - {{hitsCtrl.values.hits}}

The Commonwealth Secretariat yesterday said Sri Lanka will begin using its Commonwealth Meridian public debt management software from next month as part of its economic recovery plan.

The decision to adopt a new system follows recommendations from the International Monetary Fund (IMF) and World Bank to establish a Public Debt Management Office.

Earlier this month, a Commonwealth delegation comprising Debt Management Unit Head Dr. Raymond Prasad and Adviser and Systems Team Leader Mac Banda visited Colombo to plan the deployment of Commonwealth Meridian. This included preparations for staff training and data migration to the new software.

The Commonwealth Secretariat said it has been advising the Government, at the IMF’s request, on the legal framework, governance, and systems needed for its newly established debt office.

After reviewing several options, the Government chose Commonwealth Meridian in October 2024 for its cost-effectiveness, compatibility with existing systems, and full debt management features made available through Sri Lanka’s Commonwealth membership.

Commonwealth Meridian is comprehensive debt management software that helps governments record, analyse, manage, and monitor various types of public debt with greater accuracy and transparency. Currently, 45 countries use Commonwealth Meridian to manage government debt portfolios worth a combined $ 4 trillion.