Sierra Leone tracks public debt, repayment with Meridian software

On March 7, 2025, Sierra Leone announced the implementation of Meridian, an advanced software provided by the Commonwealth Secretariat, to enhance its public debt management capabilities.

This move aims to improve financial transparency and decision-making by enabling real-time tracking of loans and repayments.

Read also: Sierra Leone launches instant payment service to boost cashless economy

Implementation and training

The implementation of Meridian was supported by a hands-on workshop held in Freetown from February 17 to 28, 2025. The workshop, funded by the African Development Bank, brought together 30 debt officers from key government institutions, including the Finance Ministry, Central Bank, and Accountant General’s Office. 

Participants learned how to transfer debt data to the new software and gained essential skills in recording, analysing, and managing different types of loans.

Mathew Sandy, Director of Sierra Leone’s Public Debt Management Division, welcomed the implementation, stating: “This robust software will allow us to record and manage all our public debt portfolios in a single system, ensuring comprehensiveness and enhancing the efficiency of public debt management in Sierra Leone. Meridian’s web-based and user-friendly capabilities would also enhance collaboration across key government institutions and stakeholders to promote transparent and prudent debt management practices.”

Read also: Sierra Leone’s petroleum directorate joins African Energy Week 2025 as strategic partner

Sierra Leone upgrades debt management with Meridian

Meridian replaces its predecessor, the Commonwealth Secretariat: Debt Recording and Management System (CS-DRMS), which has been used since 1993. The new software is part of the Commonwealth’s broader debt management program, offering tools and advisory support to help member countries manage their debt sustainably. 

Dr. Ruth Kattumuri, Senior Director of the Secretariat’s Economic, Youth and Sustainable Development Directorate, noted that effective debt management is essential for financing public services and achieving sustainable development goals.

In addition to Sierra Leone, other West African countries like The Gambia, Ghana, and Nigeria have also received training on using Commonwealth Meridian to improve their public debt management capabilities. This training emphasises the compilation, reporting, and monitoring of fiscal debt data, aligning with recognised good practices in debt management.