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.
The Commonwealth Secretariat and the African Development Bank Group (AfDB) have pledged to work closer together to help billions of people.
In a powerful intervention at the Commonwealth Finance Ministers Meeting (CFMM) in Washington DC, the prime minister of Saint Lucia called for the rules to be changed so countries affected by natural disasters could access funds more quickly.
At their meeting in Washington yesterday, Commonwealth Central Bank Governors came together to discuss how best they can work with the private sector, including the emerging ‘Fintech’ sector, to realise the opportunities and meet the challenges associated with the rise of Fintech.