The Commonwealth has a longstanding commitment to improving finance for development, helps member countries improve their export competitiveness, and supports vulnerable small states.
The Commonwealth is working with governments, international development partners, grassroots organisations and civil society to help both developing and developed countries enjoy economic growth and stability.
Many of our members are small and vulnerable and face challenges to finance basic public services, are burdened with high debt and have had limited success in securing the benefits of global trade.
Traditional sources of finance for these countries – such as taxation and development assistance – while critically important, are insufficient to meet these challenges.
The Commonwealth helps its member governments to equitably and sustainably manage their human, natural and economic capital, to bolster national resilience to economic and social crises, and to improve prosperity for all citizens.
A record number of countries are set to leave the United Nations category of Least Developed Countries (LDC), but experts warn that without extra support they are at risk of sliding back into poverty.
Central bank officials will meet in Bermuda next week to agree on a framework that can help build robust fin-tech ecosystems in their countries.
Commonwealth finance ministers have recognised the potential of technology to improve debt transparency while urging closer collaboration to resolve tax challenges arising from growing digital commerce.
Several Commonwealth countries are now equipped to use the Commonwealth’s new debt management software, following a two-week hands-on programme for officials in London.
Trade ministers from across the Commonwealth today made a commitment to resist all forms of protectionism, and to work urgently together towards reforming the World Trade Organisation, which sets the global rules for international trade.
