A panoramic view of the Castries Harbour, Castries, Saint Lucia: where smart borrowing and strategic reforms are reshaping the island’s economic future. Credit: Alison Kentish/IPS

By Alison Kentish
CASTRIES, Saint Lucia, Aug 5 2025 (IPS)

The beauty of the majestic Piton mountains, vibrant culture, dazzling beaches and lush landscapes of Saint Lucia are invaluable assets. The country also takes pride in having two Nobel laureates, which is remarkable for a nation with a population of over 180,000.

However, as is true for many other small island developing states (SIDS) in the Caribbean, the picture of economic stability is not as rosy.

These countries also face a complex web of challenges that include intensifying climate impacts, economic volatility, external shocks, and the vagaries of global markets. These challenges exacerbate the difficulties of finding ways to finance much-needed sustainable development projects and resilience-building.

In 2020, the country’s public debt-to-GDP ratio was over 90 percent, due in part to the deleterious effects of the coronavirus pandemic, and by 2024, this ratio was reduced to 74.5 percent. This dramatic reduction has freed up funds, which can now be invested in projects that spur growth and enrich the lives of Saint Lucians.

Strong recovery is on the horizon

For Saint Lucia, prudent debt management is proving to be a powerful catalyst for growth and shared prosperity. The island’s experience is demonstrating how tailored reforms, technology adoption and capacity building can reduce their debt burden and enable sustainable management of their public finances.

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. Saint Lucia is now implementing this framework, which has recommended targeted and practical interventions.

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.

Modernising for sustainable growth

A significant outcome of the technical assistance provided by the Commonwealth team was the review of Saint Lucia’s Public Debt Management Act, which has now been passed. The revised legislation now provides a stronger legal framework for debt operations and has laid the groundwork for publishing a formal debt management strategy and annual debt reports, enhancing transparency and accountability.

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.

John-Emmanuel said, “Meridian allows for real-time tracking of borrowing, automated reporting, and better analysis of liabilities. These upgrades have helped integrate technology into the core of Saint Lucia’s debt operations, improving both strategic planning and investor communications.”

Through technical workshops, mentoring, and regional training sessions, Saint Lucia’s debt management team has grown in both skill and confidence.

“The ongoing support has empowered our staff members to apply best practices and promote transparency,” the Deputy Director observed. “We’ve become more proactive and capable in managing our debt portfolio.”

Leveraging best practices from the Commonwealth

To mark 40 years of debt management support for member countries, this year is marked as the Commonwealth Year of Resilient, Innovative and Sustainable Debt. Initiatives, which will continue into 2026, will include sharing experiences and enhancing technical and policy solutions and support that can help governments with long-term public debt management, which will contribute to fiscal sustainability.

Dr Ruth Kattumuri, the Commonwealth Secretariat’s Senior Director of the Economic Development, Trade and Investment Directorate, noted, “The challenges for small and vulnerable states in the Commonwealth are multi-faceted. They face existential threats from frequent and extreme weather events, due to climate change, as well as economic shocks—both of which impede progress. Small island developing states also have limited potential to diversify their economies. So, maintaining a sustainable level of debt is critically important.”

Kattumuri added, “For countries like Saint Lucia, being able to tap into the experience and the knowledge base of the Secretariat means leveraging best practices from our 33 small states. We are also able to provide tailored technical assistance and capacity building to help transform public finance management, based on our long experience of supporting small states.”

Access to affordable finance is limited for Saint Lucia, which is classified as an upper-middle-income country, as are many other small island developing states (SIDS) in the Caribbean. For these countries, higher interest rates and limited funding options mean debt reform is not optional – it is essential.

Also critically important is the need to modernise governance practices in line with international standards.

These reforms have not gone unnoticed by the international financial community. Improved transparency and consistent reporting have boosted confidence among lenders and investors, enabling Saint Lucia access to concessional financing to fuel their sustainable and resilient development.

Strong partnerships for Caribbean growth

Saint Lucia’s story is not unique. Other Caribbean countries, such as The Bahamas, are also advancing sustainable debt management practices in the region. Since 2021, The Bahamas has partnered with the Commonwealth Secretariat to strengthen its public debt management framework and develop a government bond market, a project that has been supported by the India–UN Development Partnership Fund.

The experience of these Caribbean countries demonstrates that, with the right combination of thoughtful reforms, cooperation and prudent borrowing, even nations facing unique fiscal, geographic and environmental vulnerabilities can successfully manage their debt.

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Excerpt:

Celebrating the opening of this brightly coloured charging station made using recycled plastic tiles. Stanley Anigbogu projects bring vibrant solutions to underserved communities. Credit: LightEd

By Promise Eze
ABUJA, Jun 30 2025 (IPS)

When Stanley Anigbogu heard his name announced as the 2025 Commonwealth Young Person of the Year in London earlier in March, he could hardly believe it. He had not expected to win, especially among a pool of brilliant nominees from across the globe.

The 25-year-old Nigerian energy innovator was recognised for transforming waste into solar-powered innovations that deliver clean energy to over 10,000 refugees in Africa. Anigbogu is the co-founder of LightEd, a company that turns plastic waste into solar-powered charging stations. These stations supply electricity to communities with little or no access to power. LightEd works in hard-to-reach areas and serves people in different parts of Nigeria, including thousands of displaced persons.

“I really was not expecting to win the award,” he said. “When my name was called, I was shocked. It took me a moment to believe it. I was really grateful because it was an amazing accomplishment. Just representing Africa, being the best from Africa out of 56 countries. I knew the work we were doing was important, but the other finalists were doing amazing things as well. I was grateful that my work was spotlighted because it gives the work that I do a different level of recognition. It is a very big accomplishment.”

For Anigbogu, the award is not just a personal achievement. He sees it as a moment of pride for Nigeria and for young people across the continent.

“This award gives me hope,” he said. “It shows that people see our work and that it matters.”

Stanley Anigbogu, 2025 Commonwealth Young Person of the Year. Credit: LightEd

The Youth Awards for Excellence in Development Work, known as the Commonwealth Youth Awards, is a flagship project of the Commonwealth Secretariat, which has supported youth development for over 50 years. The Secretariat’s Head of Social Policy Development, Layne Robinson, underscored the importance of highlighting the work of young leaders like Anigbogu and empowering them to do more.

He said, “These awards enable us to learn more about the work being done by young people across the Commonwealth and offer us an opportunity to support them tangibly.  By amplifying their work, the awards help them become beacons to others and contribute to building the next generation of leaders.”

In pursuit of the waste-to-energy approach, Stanley Anigbogu’s project has repurposed more than 5 tonnes of plastic waste. Reducing harm to the environment is central to his innovations. Credit: LightEd

Lighting Up Communities

Anigbogu grew up in Onitsha, a bustling town in southeastern Nigeria. Like many homes in the country, his family did not have reliable electricity. Power cuts were frequent. Sometimes, they had electricity for only a few hours in an entire week. He often had to study using candles or kerosene lamps.

These struggles sparked his curiosity about how electricity worked. He became interested in finding solutions to the challenges around him. At the age of 15, he began building small inventions. He created robots and rockets using scraps and second-hand electronic components. He built simple tools to help with tasks at home and even started a science club in school.

Stanley Anigbogu stands inside a work in progress. Credit: LightEd

After secondary school, Anigbogu moved to Morocco for university. While there, he founded a start-up which aimed to turn orange peels into energy. The project failed, but it taught him valuable lessons.

“I made a lot of mistakes because I did not understand business well,” he said. “But I learnt a lot from it.”

During the COVID-19 lockdown in 2020, Anigbogu returned to Nigeria. He wanted to create something useful that could help poor communities. That’s how LightEd started. His innovation is helping to address Nigeria’s electricity problem. According to the World Bank, 85 million Nigerians do not have access to electricity from the national grid. This means about 43 percent of the population lives without regular power, making Nigeria the country with the highest number of people without electricity.

Stanley Anigbogu’s projects work towards providing electricity to underserved people; the community is at the heart of the decisions on where to place the solar-powered charging stations. Credit: LightEd

One of LightEd’s flagship projects is the construction of charging stations made from plastic and recycled waste, fitted with solar panels. People use them to charge phones, lamps, and small devices. In many of these areas, it is the only source of electricity available.

LightEd has trained over 6,000 students and recycled more than 20,000 kilograms of plastic. The company has also raised over 500,000 dollars from donors and partners to expand its work.

“Our goal is to make clean energy available to everyone,” said Anigbogu, who added that the company works closely with communities to create solutions tailored to their needs.

Stanley Anigbogu finds light in waste. Credit: LightEd

“The solutions we provide are community-led. Each community has different needs. We begin by asking questions like: where should the station be built? What is their energy need? What does the community require? We also add artwork to the stations, designed to reflect what the community feels the station represents. When we work with an artist, we hold a workshop and collect input from the people. We also work with them to decide how the station will be managed. Once it is built, we hand it over to the community.”

Helping Displaced People

Anigbogu’s interest in helping displaced people began while he was in Morocco. He joined a volunteer group that visited families living in the Atlas Mountains. Many had been displaced and lacked access to electricity and clean water.

LightEd has set up solar charging stations in two big camps for displaced people in Nigeria. They also provided solar lights and lamps, making it easier and safer for people to move around at night, especially women and children.

“I want kids in refugee camps to be able to study at night. Before, everywhere used to be dark, and when you put in streetlights, it lights up the surroundings and creates a sense of safety and also supports their mental health. I think when you’re living in a dark environment and you’re already in an inhospitable situation, having proper lighting helps give you a sense of security. That contributes to an overall stronger feeling of safety. Aside from that, it also helps reduce costs, such as the money spent on things like kerosene or candles, because all you need to do is go and charge your lamp or other device. It also reduces the negative health effects from the smoke and fumes people inhale when using traditional lighting solutions,” Anigbogu said.

Looking Ahead

Anigbogu’s journey has not been without challenges. In the early days, one of the biggest obstacles was the lack of clear guidance on how to start an organisation in Nigeria, including navigating registration, documentation, and taxes. Today, his main challenge is scaling. While funding is important, Anigbogu says the harder task is finding the right strategies and structures to expand into new regions and countries.

Stanley Anigbogu hopes to use access to energy to bring people of different faiths together, helping them resolve the many conflicts in the region. Credit: LightEd

But for Anigbogu, none of this is a reason to give up. He is now working on building charging stations that also double as spaces for peace dialogue.

“I am working with the Commonwealth Peace Prize winners, who are also Nigerians. We are discussing building a charging station that can serve as a space for intergenerational and interreligious dialogue. In Nigeria, where there are many religious conflicts, I believe it is a good idea to use access to energy as a way to bring people of different faiths together to talk and understand each other,” he said.

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