The Maldives has called on the international community to assist small states affected by the current global economic crisis. Minister of Foreign Affairs Abdulla Shahid made the statement while delivering a keynote address on Economic Recovery and Challenges faced by Small States at the Berlin Economic Forum 2023.
In his remarks, Minister Shahid said that small states are among the worst affected by the current global economic crisis. He then shared recommended courses of action that the international community could adopt to address the challenges of small states. As such, he recommended providing assistance to small states by providing targeted solutions to existing problems, including climate change. He noted that a difference between 1.5 degrees and 2 degrees could erase the Maldives from existence.
Additionally, Minister Shahid recommended the international community become more innovative with alternative measures. He called for international financial institutions to consider an alternative to gross domestic product (GDP) when considering concessional financing. He said that concessional financing must be made available and called for the finalisation of the Multidimensional Vulnerability Index (MVI) and its implementation.
Minister Shahid further recommended that the international community listen to small states to find solutions for collective problems. He said that the voices of small states need to be heard, especially in the international financial system. He concluded by emphasising the need for better collaboration to create a multilateral system that is more equitable, just, and fair.