A group of 37 island states, home to some 65 million people, "urgently need to increase their fiscal space to tackle the multiple challenges and crises facing them," wrote Iolanda Fresnillo, one of the authors of the European Network on Debt and Development report.
Public debt levels in the island states had risen from an average of near 66% of GDP in 2019 to nearly 83% in 2020 and were set to remain above 70% until 2025, the report found.
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