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Department of Economics
  1. Debt and Development in Small Island Developing States
  2. Sustainable Development Goal 17.

He stated that the current trade-negotiation round of the World Trade Organization WTO [Doha Round] must ensure that small, vulnerable economies are treated fairly in trade.

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Camillo Gonsalves, St. Winston Dookeran reiterated the need for enhanced partnerships among SIDS, through the Alliance of Small Island States, to leverage the negotiating space it encompasses in multilateral discourses.

These he said included the systemic problems related to graduation, access to financing for sustainable development, trade imbalances, debt and climate change. In the Caribbean, debt ratios are higher still. Aid is also heavily concentrated in just a few countries , such as Haiti, the Solomon Islands and Timor-Leste.

ISLANDS - Small Island Developing States of the Eastern and Southern Africa-Indian Ocean region

South-South Cooperation has expanded — China has become an important provider of financial assistance in the Caribbean and the Pacific — but financing gaps are still high. Sids are also, in many ways, success stories.

United Nations Information Centre for Australia, New Zealand and the South Pacific

The flip-side is they are then locked-out of concessional finance loans extended at below-market rates. Many Sids must rely on private finance to meet fiscal deficits and fund development.

  1. Debt and Development In Small Island Developing States | Department of Economics.
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  5. Such sources of funds, however, are more expensive, short-term, volatile, and may not expand opportunities for real sustainable development. Many Sids experience increasingly frequent extreme weather events, resulting in serious development setbacks and heavy reconstruction costs. With climate funds so desperately needed but incredibly complex to access, the conditions for a perfect storm in the form of high public debt are created. So what can be done?

    Debt and Development in Small Island Developing States

    The UNDP works with partners around the world to draw attention to these realities, and to explore constructive solutions. We have a dedicated site for Germany. Editors: King , D. Debt and Development in Small Island Developing States draws on the expertise of established researchers and public officials from within the SIDS community to answer the following pressing questions related to sustainability, debt accumulation, and prospects for future growth.

    The emergence of a debt crisis, characterized by the new unenviable status of these nations as among the world's most highly indebted countries, could therefore be seen as just another chapter in the crisis ridden history of small island states. This time it is different.

    Sustainable Development Goal 17.

    The debt crisis and the measures that have to be used to deal with it, may turn out to be the most imposing constraint on sustainable development in these countries. This book dealing with the debt crisis in small states is therefore timely and of immediate and far reaching relevance.

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    It should be required reading for all policy makers. But above all, it should be required reading for all who have the wellbeing of the people of the Caribbean, Pacific Islands, and other small island regions at heart. Arthur, former Prime Minister, Barbados, The depth of analysis, combined with the richness of the narratives provide much scope for drawing lasting lessons on debt accumulation and management from and for SIDS.