Latest content: Small states

For more information contact our Economic Policy and Small States Section

Main page for this area of work
Small States

Blog: Building economic resilience in Commonwealth Small States through collective action

Blog by Dr Thomas Munthali, Commonwealth Secretariat’s Head of Economic Policy and Small States.

The year 2025 marked a defining moment for the global economy — and an especially consequential one for small and vulnerable states. As the world grappled with geopolitical tensions, trade fragmentation, energy transitions and tightening fiscal and financial conditions, uncertainty became the new normal. For small states, already navigating narrow economic bases and heightened exposure to external shocks, the stakes could not have been higher.

Yet 2025 was not defined by pressure alone. It was also a year that underscored the enduring strength of the Commonwealth family and the tangible value of working together.
Read news - Blog: Building economic resilience in Commonwealth Small States through collective action

Growth opportunity for Caribbean and Pacific businesses

Commonwealth Investment Network (CIN)

The Commonwealth Investment Network (CIN) fosters collaboration across a diverse ecosystem of local, regional, and international partners to identify, develop, and support investment opportunities in Commonwealth Small Island Developing States (SIDS). By engaging international financiers, facilitating knowledge exchange, strengthening local capacity, and delivering tailored technical assistance, the CIN works to enhance project bankability and unlock viable, climate-positive growth opportunities. The Network’s overarching objective is to mobilise private finance and technical expertise to help build resilient, inclusive, and sustainable island economies.

The Commonwealth Investment Network (CIN) is piloting a three-month accelerator programme for Commonwealth Small Island Developing States (SIDS) in the Caribbean and the Pacific.

Blog: From Brain Drain to Brain Gain: Unlocking diaspora finance in small states

This blog is authored by three experts from the Commonwealth Secretariat: Dr. Thomas Munthali (Adviser and Head, Economic Policy and Small States Economic Development, Trade and Investment Directorate), Tamara Mughogho (Economic Adviser, Economic Policy and Small States, Trade and Investment Directorate), and Dr. Ruth Kattumuri (Senior Director, Economic, Development, Trade and Investment Directorate).
Read news - Blog: From Brain Drain to Brain Gain: Unlocking diaspora finance in small states

A Guiding Manual to Accessing International Climate Finance for the Republic of Nauru

The main aim of this guiding manual is to improve climate finance flows to Nauru. It can be used as a reference document by the government of Nauru and all the other relevant stakeholders to access international climate funds and different types of funding options available for climate adaptation and mitigation projects globally.
Read publication - A Guiding Manual to Accessing International Climate Finance for the Republic of Nauru

Commonwealth Ministerial Meeting on Small States: Paving the Way for Resilient Futures

The Commonwealth Ministerial Meeting on Small States (CMMSS) convened today in Apia, Samoa, at a critical juncture as the country this week becomes the first Pacific Small Island Developing State (SIDS) to host the Commonwealth Heads of Government Meeting (CHOGM). This ministerial meeting highlights the urgent need to tackle economic vulnerability, climate change, access to sustainable finance and debt distress – key challenges faced by the world’s smallest and most vulnerable nations.
Read news - Commonwealth Ministerial Meeting on Small States: Paving the Way for Resilient Futures

Small States Economic Review and Basic Statistics Volume 22

Following the resumption of normal activity post-COVID, small states have been on a path to economic recovery, largely sustained by a rebound in tourism, which in many small states has reached pre-pandemic levels. However, ongoing shocks – ranging from geopolitical to climatic – have marred this recovery. As such, small states are projected to grow at 3.3 per cent in 2025, a contraction from the 3.7 per cent growth in 2024, as a result of persistent economic challenges.

The combination of socio-economic shocks over the past few years has also affected socio-economic progress in small states. Geopolitical tensions in Europe and supply chain disruptions have had impacts on food security, given the reliance of small states on food imports. This has worsened progress on poverty indicators.

Climate change shocks continue to affect socio-economic progress in the health and education sectors, by damaging social infrastructure, affecting school attendance and promoting the spread of communicable diseases.
Read publication - Small States Economic Review and Basic Statistics Volume 22

New report highlights innovative approach to finance for Commonwealth SIDS

Today, the Commonwealth Secretariat and Cambridge University’s Centre for Resilience and Sustainable Development (CRSD) unveiled the final report for "Their Future, Our Action and the COMPASS Model: A New Approach to Finance in Commonwealth Small Island Developing States," introducing the innovative Common Pool Asset Structuring Strategy (COMPASS).
Read news - New report highlights innovative approach to finance for Commonwealth SIDS