MEFMI collaborates with COMSEC to build capacity in the use of Meridian

Recognising centrality of debt statistics in debt management operations, MEFMI has continued to collaborate with the developers of debt recording and management systems namely, United Nations Conference on Trade and Development (UNCTAD) and Commonwealth Secretariat (COMSEC), in building capacity of member countries on debt database management. These system developers continue to enhance the debt recording and management systems in line with developments in the debt management landscape and evolving user needs. This has led to the development of a new system by COMSEC, the Commonwealth Meridian, which is set to replace the Commonwealth Secretariat Debt Recording and Management System, (CS-DRMS).

In an effort to introduce participants to the features and functionalities of the new debt management system, MEFMI held a regional workshop in collaboration with COMSEC, from 19 to 23 August 2019 in Ezwulini, Eswatini. The workshop was also aimed at equipping users with requisite validation skills to prepare data in CS-DRMS for migration to Meridian. It also provided a platform for participants to share experiences and discuss challenges they face in debt database management.

The workshop was officially opened by Ms. Nompumelelo Dlamini, Under Secretary in the Ministry of Finance, Eswatini. She commended the continued partnership between MEFMI and COMSEC in providing technical assistance to member countries in the area of debt database, adding that the MEFMI region has greatly benefited from these coordinated interventions that contribute to the common goal of improving capacity for public debt management. In addition, she applauded the COMSEC for state-of-the -art Commonwealth Meridian web-based debt recording and management system which is expected to support user countries’ endeavour to proactively manage their public debt portfolios.

Speaking at the same workshop, the Advisor and Head of Debt Unit in COMSEC, Mrs Pamella McLaren highlighted that the new system is more usable and its development was informed by user requirements and a lot of input from international organisations. She highlighted that the new system has been piloted in 10 countries, including Kenya.  She also informed participants that COMSEC will continue to support CS-DRMS for the next 3 years, and countries are expected to have fully migrated to Meridian over this period.

The workshop covered key functionalities of the new debt recording system; country presentations and plenary discussions where participants shared their experiences in the various aspects of debt database management. Practical walkthrough sessions and exercises also provided participants with hands-on experience on the new system. In addition, participants were taken through the important elements of preparing CS-DRMS data for migration to Meridian.

The training enhanced participants’ understanding of the new debt recording system, and equipped them with requisite skills to prepare CS-DRMS data for the migration to Meridian. In addition, the workshop provided a platform for MEFMI and COMSEC to identify key challenges member countries are facing in their endeavour to enhance the quality of their debt databases. This will assist in informing MEFMI’s interventions going forward.