Enhancing critical forms of financing and aid effectiveness through collaborative partnerships. Policy Brief

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Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) from Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL)

Abstract: Caribbean small island developing States (SIDS) were dramatically impacted by recent global crises, including the socioeconomic fallout of the COVID-19 pandemic, economic shocks from the war in Ukraine and the worsening effects of climate change. These challenges exposed the extent of their structural weaknesses, social and economic vulnerabilities, and significantly slowed their sustainable development efforts (Antigua and Barbuda Agenda, 2024). This includes their vulnerability to external shocks, which exacerbates their risk-profile and makes it harder to attract private and international capital flows, notably affordable finance. Strengthening resilience against such vulnerabilities remains a challenge due to several structural constraints. Despite ongoing efforts to achieve sustainable development, progress will remain limited unless both national governments and global partners broaden their development financing options. Thus, it is crucial to align these opportunities with the unique development circumstances of SIDS. Strengthening the international financial architecture to improve access to concessional finance is essential for building resilience against external shocks.

Date: 2025-01-03
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Persistent link: https://EconPapers.repec.org/RePEc:ecr:col095:81194

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