DAR ES SALAAM: TANZANIA has benefited from the Commonwealth Secretariat regular training on how to manage national debt more effectively.
Tanzanian High Commissioner to UK, Mbelwa Kairuki told the ‘Daily News’ recently that the expertise is crucial after the government migrated to a new debt management system known as Meridian since July 2023.
The envoy said last year his office managed to coordinate the participation of 12 Tanzanian experts from the Ministry of Finance in training on national debt management offered by the Commonwealth Secretariat.
“This training stems from the government’s transition to the new debt management system, dubbed Meridian since July 2023,” the envoy said.
In 2019, the Commonwealth Secretariat (COMSEC) launched the new debt management system- Meridian- to replace the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) which was phased out in mid-2023.
According to experts, the new web-based and state-of-the-art Meridian system caters for the recording of more debt instrument types, offering a comprehensive solution that promotes effective public debt management relative to CS-DRMS.
It provides a platform for information flow between various entities involved in public debt management operations and also ensures that real time data can be accessed through remote access.
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Speaking during the launch of the system in August 2023, Deputy Permanent Secretary for the Ministry of Finance Jenifa Omolo said that the government had joined other Commonwealth countries to adopt a new Debt Management System (CS-Meridian) that would enhance access to debt information.
Ms Omolo, said that the system would significantly improve the storage of debt data and enhance the transparency of debt statistics.
“The Ministry of Finance has recognised the importance of adopting this new international system used by our counterparts in the Commonwealth,” Ms Omolo was quote as saying.
On her part, the Senior Director of the Economic, Youth and Sustainable Development Directorate at the Commonwealth Secretariat, Dr Ruth Kattamuri, who participated in the launch virtually, commended the Tanzanian government for adopting the system.
She pledged the Commonwealth’s continued collaboration with Tanzania to ensure the system operates effectively and fosters development.
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Earlier, explaining the system, Assistant Commissioner of the Debt Management Department from the Ministry of Finance, Mr Omary Khama, said that the system was developed by the Commonwealth Secretariat in early 2019.
He noted that Tanzania began the transition to the system in June 2022, utilising local experts from both Mainland and Zanzibar, in collaboration with Commonwealth specialists. He also clarified that following the launch, the system will now officially be in use.
Meanwhile, the envoy said, public servants have also been empowered to embrace emerging technologies to develop policies and regulations that govern the technologies for the benefit of the country.
He said the government has benefited from experience sharing on the best practices for efficiently managing the public service and leveraging technology to simplify works.
The envoy further said the Civil Society Organisations and Non-Governmental Organisations in the country have been enabled to participate in the implementation of sustainable development goals alongside the government and other stakeholders.
