Belize Participates in Regional Workshop on Debt Transparency

Belize recently participated in a crucial workshop in Jamaica focused on improving public debt data quality and transparency. The initiative, co-organized by the Commonwealth Secretariat and the International Monetary Fund (IMF), underscores the growing recognition that well-managed debt is a vital tool for national development and resilience.  Thirty-three public debt managers from 16 Caribbean nations, including Belize, gathered from May 19 to 30, for intensive training. The workshop aimed to equip participants with advanced skills in managing public debt, particularly using “Commonwealth Meridian,” a web-based debt management software utilized by nearly all participating countries.  Theodora Andrews from the Central Bank of Belize highlighted the immediate applicability of the training for the nation’s debt management efforts. The focus on debt transparency and data quality is particularly pertinent for the Caribbean region, which is highly vulnerable to the economic impacts of climate change and natural disasters. Ruth Kattumuri, Senior Director of the Economic, Development, Trade and Investment Directorate at the Commonwealth Secretariat, emphasized that debt transparency plays a crucial role for maintaining trust with citizens, creditors and development partners.  She added that it would reinforce accountability and enable more strategic and data-driven borrowing decisions that support economic resilience for countries with their recovery plans amid fiscal challenges.