Small Island Economies and the Debt-Sustainability Trap
Climate shocks, tourism dependence and high debt service form a trap that structural adjustment cannot escape.
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One hurricane from default
Small island states face a cruel arithmetic: GDP concentrated in tourism and imports, and debt-service costs that rise with every climate-induced shock.
New instruments — disaster clauses, debt-for-nature swaps and resilience financing — offer a route out, but only if creditors price climate risk honestly.
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