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