Latest content: Economic development

Commonwealth Finance Ministers have today issued their first joint statement in over a decade, in which they called on the G20, Paris Club, World Bank and IMF to extend financial support to vulnerable nations given the deep and widespread economic impact of the COVID19 pandemic.

An innovative toolkit to help countries unlock the potential of financial technology to deliver inclusive economic progress has been launched by the Commonwealth Secretariat.

The Commonwealth Secretariat and the United Nations Conference on Trade and Development (UNCTAD) have joined forces to create a pioneering resource to support countries facing tough decisions on public debt. 

Commonwealth Secretary-General Patricia Scotland has hailed India’s leadership in supporting vulnerable nations in the Commonwealth, describing it as an “area of hope” for all member countries.

Commonwealth countries are at risk of losing foreign investment and trade from not having modern dispute resolution systems available to their business communities.

In Africa, micro, small and medium-size enterprises (MSMEs) in the informal economy are particularly vulnerable to economic impacts of the COVID-19 pandemic.

The Commonwealth has launched a new Financial Technology, or fintech, programme to boost governments’ capacity and knowledge of the industry.

Eligible countries impacted by the COVID-19 pandemic can better manage debt relief from international lenders, using the Commonwealth Secretariat’s specialised software.  

When countries shuttered their shops, closed their markets, and cordoned off places of gathering to help ward off the coronavirus, they did so out of immediate concern for the health and wellbeing of their citizens.

John Maynard Keynes became popular after his death for his teachings now called Keynesian economics, which are applied in most economic crises.

The coronavirus pandemic has caused many countries to question their reliance on the tourism industry. But what options remain for economic growth outside of tourism?

Imagine a world without the internet and erase the last few decades of technological advancement. Then imagine how governments, schools and businesses would have dealt with the COVID-19 pandemic.

In the early months of 2020, much of the globe was put on pause as governments fought to contain the COVID-19 outbreak. For many, work came to a grinding halt as factories and shops were forced to close their doors, transforming a global health catastrophe into a labour market and economic crisis.

The world is bracing for a massive hit to the global economy in the wake of the coronavirus (COVID-19) pandemic.

A mere four months ago, many of us had never heard the term coronavirus, yet now the novel coronavirus and COVID-19, the disease it causes, fills our news feeds – and our thoughts— every day.

Some of the Commonwealth’s top entertainers and sporting stars joined Queen Elizabeth and other members of the Royal Family at a multi-faith service to celebrate Commonwealth Day.

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.

Commonwealth central bankers have created a technical framework that will improve access to cheaper, faster and more efficient banking for people without bank accounts.

Innovations in the finance sector could help lift more people out of poverty and boost growth in developing Commonwealth countries.

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.

Philda Maiga was deployed as a national trade adviser to Kenya from 2014 until 2019 under the Hub and Spokes Programme. Providing technical support to the Ministry of Industry, Trade and Cooperatives, she shares insights from her experience in supporting the development of Kenya’s first ever national strategy to combat illicit trade.