For small states, this is not an abstract geopolitical trend – it is a lived reality, shaping access to finance, trade, climate resilience and development opportunity every day.
Small states contribute least to global instability, yet bear its heaviest costs. They face tightening global financial conditions, rising debt burdens, accelerating climate impacts and increasing exposure to trade disruption – all within a system that too often measures resilience using outdated metrics and allocates support too slowly, or on the wrong terms. In this context, advocacy for small states is even more essential.
The Commonwealth exists precisely for moments such as this. In 2025, we began implementing a new five-year Strategic Plan, built around democratic, economic and environmental resilience. At its core is a clear commitment: the priorities of small and vulnerable states run through the heart of our work.
Whether strengthening debt management systems, expanding access to climate finance, supporting clean energy transitions, enhancing trade and digital competitiveness or shaping global rules in emerging areas such as critical minerals and ocean governance, our focus is on practical impact where it is needed most.
This year also marked a critical point in global debates on development finance. At the Fourth International Conference on Financing for Development, small states made a compelling and unified case for reform of the international financial architecture. They argued – rightly – that vulnerability, not income alone, must shape access to concessional finance. That message must now translate into concrete change. Reform delayed is resilience denied.
Against this backdrop, the stories captured in this bulletin matter. They demonstrate what is possible when small states are supported with targeted expertise, trusted partnerships, and solutions grounded in their own priorities.
From strengthening debt transparency in the Caribbean to unlocking climate finance for communities in Fiji and Namibia; from boosting export readiness in Rodrigues to advancing digital investment promotion in Antigua and Barbuda; from clean energy transitions in island economies to strengthening small-state voice in global governance of critical minerals – these are not isolated successes. They are scalable models for resilience in a world desperate for sustainable development.
As we look through 2026 and beyond, the task ahead is clear. Small states must be placed at the centre of global reform efforts – on climate finance, debt sustainability, disaster risk, trade inclusion, digital transformation and ocean governance. The Commonwealth will continue to amplify their voices, support their leadership and press for a global system that recognises vulnerability as a structural reality, not a temporary condition.
This bulletin reflects the ingenuity, determination and quiet leadership of small states across our Commonwealth. It also reflects our collective responsibility to ensure that their interests are defended – consistently and credibly – on the world stage. In an era of fragmentation, the case for solidarity has never been stronger.
The Hon. Shirley Botchwey
Secretary-General of the Commonwealth
Acknowledgments
This volume of the Commonwealth Small States Bulletin was prepared under the guidance of Dr Thomas Munthali, Head of Economic Policy and Small States (EPSS) at the Commonwealth Secretariat. Zeeshan Ali, Economic Adviser, EPSS is the lead author and co-ordinated the drafting of the report. The report also benefited from the support of the EPSS team, including Tamara Mughogho (Economic Adviser), Attila Shaaran (Economic Research Officer) and Enock Bamusi (Programme Assistant).
The team is grateful to colleagues across directorates, including Naadira Ogeer, acting Head of Energy and Natural Resources; Uzoamaka Nwamarah, Head of Climate Change; Opeyemi Abebe, Head of Trade Competitiveness; Collin Zhuawu, acting Head of Trade Policy; Rajiv Babooram, Head of the Commonwealth Connectivity Agenda; Raymond Prasad, Head of the Debt Management Unit; and all the relevant members of their respective teams for providing sectional interventions in the report. This reflected a true spirit of delivering as one at the Commonwealth Secretariat.
The EPSS Section is grateful to Dr Ruth Kattumuri, Senior Director for Economic Development, Trade and Investment at the Commonwealth Secretariat, for her helpful guidance on and inputs to the report.
The team is grateful to Rena Gashumba, Communications Adviser, Hugh Gulland, Design Officer, and Ross Fulton, Publications Manager for their valuable contributions.