A study published by the Commonwealth Secretariat has highlighted the potential for the East African Community (EAC) to establish a billion-dollar ‘green steel ecosystem’ and secure a profitable but less carbon-intensive steel industry for the region.
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Commonwealth study points to green steel opportunity in East Africa
Main page for this area of work
The Commonwealth Small States Advocacy Champions convened their first meeting during the World Bank/IMF Spring Meetings on 14 April, to discuss emerging and key issues related to economic vulnerability, climate change, access to finance, and debt sustainability.
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Commonwealth Small States Advocacy Champions meet for first time in Washington
Finance ministers from various Commonwealth countries have called for a systemic reform of the global financial architecture to enhance access to development financing for vulnerable countries
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Commonwealth finance ministers call for systemic reform of global financial architecture
Baroness Scotland calls for innovative finance mechanisms to close fiscal space on health in national economies.
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Commonwealth health gains ‘at risk’ due to global financing gap, says Secretary-General
12 April 2023 to 13 April 2023
Event
The Commonwealth Secretariat will host two side events during the 2023 World Bank Group (WBG) and International Monetary Fund (IMF) Spring Meetings in Washington DC to explore innovative financing solutions and fiscal policy options for sustainable and resilient development.
The Bahamas is scoring early wins in its debt management journey as it targets more fiscal space for national priorities and growth.
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Debt breakthrough - Lessons on mastering debt management from The Bahamas
This paper presents fiscal policy options for resilient and sustainable development in the context of ever-increasing and diverse shocks and uncertainties, discussing how the appropriate design and mix of national and subnational tax and public investment regimes can best ensure the stable provision of essential services and local infrastructure.
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Fiscal Policy Options for Resilient and Sustainable Development
As countries recover from the COVID-19 pandemic, and face the compounding challenges of global inflation, debt, climate change and sociopolitical scenarios, there is a need to explore new investment strategies to accelerate economic development, build resilience and balance competing environmental, economic and social pressures. In this context, the concept of Environmental, Social and Governance (ESG) as a framework for sustainable growth has gained new relevance. This paper discusses the potential benefits of ESG in terms of enabling sustainable economic growth in the Commonwealth, including possible technical assistance, capacity building and policy development on ESG for public debt management and improved public sector sustainability, including collaboration with International Financial Institutions financing standards.
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Environmental, Social and Governance Practices for Value Creation in the Commonwealth
This week, the Commonwealth Secretariat’s International Trade Policy team in partnership with The UK Department for Business and Trade held an event to reflect on the legacy of the Commonwealth Games and how businesses can continue to build on the relationships forged throughout the Games and the trade and investment opportunities available for businesses.
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Assessing the trade gains from the 2022 Birmingham Commonwealth Games
On International Women’s Day, the Commonwealth Secretariat and the International Trade Centre (ITC) jointly hosted a discussion on ‘Bridging the digital gap for women-led businesses in developing economies’.
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Commonwealth and ITC work to bridge the digital gap for female entrepreneurs in the developing world
8 March 2023 to 8 March 2023
Event
The Commonwealth Secretariat and the International Trade Centre will host an event on 8 March in New York City at 11:30 am EST on bridging the digital gap for women-led businesses in developing countries.
Senior officials from Eastern and Southern Africa have received hands-on training to manage their public debt using the Commonwealth’s new debt management system.
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African countries trained to manage public debt using new Commonwealth system
Work by the Commonwealth Secretariat to support Fiji’s Reserve Bank in digitising its paper-based certificates of securities, such as government bonds, will benefit investors, making it easier for them to own, safekeep and trade in the country’s financial market, valued at about $6 billion.
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Commonwealth support for new digital securities will benefit investors in Fiji
The Commonwealth Secretary-General the Rt Hon Patricia Scotland KC has pledged Commonwealth support to help Kenya realise its ambitious innovation goals.
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Commonwealth Secretary General pledges support for Kenya’s innovation ambitions
A workshop, hosted by the Commonwealth Secretariat and the International Institute for investment Treaties, has trained Cameroonian government officials to attract foreign capital by better negotiating investment agreements.
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Commonwealth trains Cameroonian officials to attract inward investment
Today Commonwealth Finance Ministers met on the margins of the World Bank and International Monetary Fund (IMF) meetings in Washington DC for the Commonwealth Finance Ministers Meeting 2022 (CFMM) to address emerging economic issues facing the global economy and Commonwealth countries.
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Commonwealth Finance Ministers call for fiscal support measures to help tame rising inflation
More than 40 government officials and civil society representatives in Belize have completed the first segment of a three-part climate change proposal ‘writeshop’.
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Commonwealth Climate Finance Access Hub supports Belizeans to gain skills in mobilising funds
At their annual meeting held today in Washington DC, Commonwealth Central Bank Governors came together to discuss strategies to best work together to tackle inflation at a time when the global economy is facing excessive inflationary pressures driven by geopolitical tensions, coupled with the disruption in supply chain.
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Commonwealth Central Banks Governors explore effective strategies for tackling inflation
A blog by: Akeem Rahaman, Economic Advisor, Sophie Brain, Research Officer, and James Gregory, Research Officer work in the Economic Policy and Small States Directorate of the Commonwealth Secretariat.
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Driving FinTech Innovation in Commonwealth Countries
11 October 2022 to 12 October 2022
Conference
Finance ministers will meet in person for the Commonwealth Finance Ministers Meeting (CFMM) on 12 October 2022 and the Commonwealth Central Bank Governors (CCBG) meeting on 11 October in Washington D.C.
Pamella McLaren, the Advisor and Head of the Debt Management of the Commonwealth Meridian Secretariat, has challenged 35 debt managers of the sub-region to utilize the use of the “Commonwealth Meridian” system for financial debt data collection, reporting, and monitoring within member countries.
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Liberia: “Use Commonwealth Meridian to Manage Debt Portfolio”
28 July 2022 to 28 July 2022
Webinar
Organised by the Commonwealth Secretariat, Enhanced Integrated Framework and the World Economic Forum, the thematic focus of the session is on solutions to build capacity for developing countries to engage fully and effectively in digital trade. This aligns most closely with the Global Review’s themes of “connectivity and empowerment” and “future priorities”.
27 July 2022 to 27 July 2022
Webinar
Organised by the Commonwealth Small States Office in Geneva, the session will focus on pragmatic ways to address the connectivity constraints limiting the participation of small economies in global trade. This aligns most closely with the Global Review’s theme of “connectivity and empowerment”.
By Brendan Vickers, Head, International Trade Policy Section; Salamat Ali, Economic Adviser, Trade Economist and Neil Balchin, Economic Adviser, Trade Policy Analysis, The Commonwealth Secretariat, London.
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Blog: Tackling food insecurity in Commonwealth small states in the wake of the Russia-Ukraine war
The Commonwealth Secretariat’s Debt Management Unit (DMU) in collaboration with the Development Bank of Jamaica Limited delivered a workshop and forum for Caribbean Public Debt Managers in Jamaica.
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The Commonwealth Secretariat and the Development Bank of Jamaica Partnered on PPP Workshop and Forum