Podcast: Economic Shocks On Small States
“The main reason small states were really hard hit by Covid was tourism,” Dana Vorisek, Senior Economist, World Bank Group said during a World Bank podcast that looked at the plight of 37 small states, which they define as countries with a population of 1.5 million or less.
The World Bank website said, “The recently released January edition of this year’s Global Economic Prospects report warns that the global economy is dangerously close to a recession, with worldwide economic output projected to be just 1.7% in 2023.
“While the outlook for all economies is quite grim, the edition takes a special focus on the plight of 37 small states—countries with a population of 1.5 million or less—that are already vulnerable to shocks stemming from the pandemic, climate change, disruptions to tourism and more.
“In this episode of The Development Podcast, we speak with three guests: Dana Vorisek, senior economist and one of the lead report authors of the Global Economic Prospects report; the Hon. Tiofilusi Tiueti, Minister for Finance and Tonga World Bank Governor; and Anna Kay, a female-owned restauranteur in Jamaica, who share their insights and experiences to the impacts of a worsening global economy on already vulnerable states.”
