How Saint Lucia is changing the face of debt
Published on AUGUST 11, 2025
In 2020, the country’s public debt-to GDP ratio was over 90%, due in part to the deleterious effects of the coronavirus pandemic, and by 2024, this ratio was reduced to 74.5%.
This dramatic reduction has freed up funds which can now be invested in projects that spur growth and enrich the lives of Saint Lucians.
For Saint Lucia, prudent debt management is proving to be a powerful catalyst for growth and shared prosperity. The government is taking even bolder steps for fiscal stability, with technical support from the Commonwealth Secretariat.
In March 2024, the Commonwealth Secretariat and the Ministry of Finance collaborated to develop a reform plan for the country, which started with a rigorous and comprehensive review of the public borrowing framework.
Vera John-Emmanuel, Deputy Director of Finance in the Debt and Investment Management Unit in Saint Lucia’s Ministry of Finance, said: “The assessment helped pinpoint systemic strengths and weaknesses ranging from legislative gaps to coordination issues between debt management functions.”
Technology has also played a pivotal role in modernising Saint Lucia’s debt management practices with the adoption of the Commonwealth Meridian system. Launched in 2019, the Commonwealth Meridian debt management system is currently being used by 43 countries around the world.
Source The Commonwealth
