- April 25, 2023
- Posted by: admin
- Categories: Current News, debt management
In February 2023, Malawi with the support of the Commonwealth Secretariat (COMSEC), migrated its public debt database from the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) to the Commonwealth Meridian (CS-Meridian).
The CS-Meridian is a COMSEC-developed debt management information system that provides an enhanced platform for managing public sector debt statistics. It allows countries to record all the six (6) debt instruments, as defined by the IMF Public Sector Debt Statistical Guide, namely: loans; debt securities; special drawing rights; insurance; pension and standardised guarantee schemes; currency and deposits as well as other accounts payable. The system also provides for the recording of liabilities of state-owned enterprises (SOEs). Further, the CS-Meridian is web-based, allowing users to access debt statistics in real-time, from any location in the world.
To benefit from the enhanced functionalities that the new system brings, the Government of Malawi requested COMSEC to migrate its public debt database from CS-DRMS to CS-Meridian. This was done successfully, followed by a joint MEFMI and COMSEC workshop conducted during the period 20 February to 3 March 2023 in Salima, Malawi.
The training workshop enhanced the knowledge and skills of country officials in the use of the CS-Meridian. In addition, it guided the team on how to conduct post-migration validation. A total of 13 officials drawn from the Ministry of Finance’s Debt and Aid as well as the Information Communication and Technology (ICT) departments participated in the workshop.
The training was facilitated by Messrs. Mac Banda, Ernest Adjei, and Amit Mishra of the Commonwealth Secretariat. The MEFMI Secretariat was represented by Mr. Andrew Katana, from the National Treasury of Kenya.