Monetary Sovereignty in Africa
@Mon_Sovereignty
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#AfricanMonetarySovereignty : Facing the socio-ecological crisis: Delinking and the question of Global Reparations. October 25–28th,2022
Dakar, Senegal
Joined October 2019
My recent blog is cited in The Guardian.... The economist Fadhel Kaboub suggests a way out: the World Bank and IMF could lend money to historical polluters to help them pay for their climate debt to poor nations. https://t.co/0ERjwNNbSP
@tianran
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My latest blog about the #WBGMeetings and #IMFMeetings a short #Thread: Climate Finance for the Global North And Climate Reparations for the Global South https://t.co/jw5JKoKQ8c 1/n
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Here is a little flavor of what’s happening in DC at the @IMFNews & @WorldBank Spring meetings
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New research published in Nature today finds that we are on track for climate damages worth $38 trillion per year by 2050. This is a staggering figure. The damages are projected to be worth 6x more than the mitigation costs of limiting global warming to 2C.
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🔓It's time for ambitious debt relief to unlock Africa's potential & pave the way for a century of justice and equity, says @FadhelKaboub @PowerShftAfrica Read the letter from 40+ African and int'l thought leaders calling for action on the #debtcrisis ⏩ https://t.co/dSNhljR5kB
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💬"Not designed for us, not designed by us,” says Prof. @FadhelKaboub at the #YLPfoodsystems workshop in #Accra, calling on young leaders to help rethink our current economic structures to achieve the #SDGs – transforming trade, investment and taxation rules.
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Enough is enough. Wealthy countries must stop blocking efforts to reform our outdated, colonial financial architecture and commit to systemic solutions to break the cycle of debt. Read the open letter signed by 40+ thought leaders: https://t.co/h3cbQsT8DK
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As ministers gather at the IMF&World Bank Spring Meetings, 40+ African thought leaders together with international economists, scientists and sustainability experts call on them to take systemic action to tackle the crushing debt crisis. Read the letter⏩ https://t.co/lDwIvfJllL
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OUT NOW!: 'Adapting Our Financial Architecture in a Crisis-Prone World: A Civil Society Proposal for Special Drawing Rights Reform', from @ActionAidUSA & @brettonwoodspr 1/ #IMFMeetings
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What links IMF, World Bank, debt, tax, COP29 & banks like Barclays with the climate crisis? We need to #FixTheFinance. Check out this short series of 1-page explainers by @ActionAid @350 @PowerShftAfrica @christianaid @Oxfam @RecourseTeam @urgewald
https://t.co/HjQhySWuEi
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So well put, @FadhelKaboub! Climate finance today is “greenwashed neocolonial extraction and abuse dressed up in market-based climate finance solutions… loans, pollution permits (a.k.a. carbon credits), and de-risked extractive investments.” https://t.co/IpqDb4viEC
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🚀 Now OUT: New @brettonwoodspr report finds energy conditionality in @WorldBank DPF is paving the way for energy privatisation in LMICs - foreclosing other energy transition models rooted in sovereignty & national ownership https://t.co/4K58oYYMO6 CC @FadhelKaboub @KateAronoff
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"World leaders approving #fossilfuel investments are either signing a collective suicide pact for humanity or committing financial fraud by misleading investors into sinking funds into soon-to-be stranded assets." - @FadhelKaboub @GISP_Tweets
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@FadhelKaboub notes, "The state of climate finance today is disturbingly absurd. Instead of the Global North offering transformative #climatefinance to clear its climate debt to the Global South, it offers market-based, greenwashed colonial entrapment." https://t.co/UiRC70d0Id
nation.africa
Funding gap hinders developing nations' ability to invest in clean
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Fadhel Kaboub, Senior Advisor, Power Shift Africa: "None of the #SDGs is achievable under the current global economic architecture that has been designed during colonial times, and further reinforced during post-colonial times via the rules of international finance, trade and
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Solar #GeoEngineering 🚨 Geoengineering encompasses a range of speculative technologies intended to address the effects, not the root causes, of #climatechange. #Africa must refuse to be a dumping ground for dangerous technologies. https://t.co/BdMIyNxleo
project-syndicate.org
Yacob Mulugetta, Dean Bhekumuzi Bhebhe and Niclas Hällström urge the international community to heed African countries’ warnings about speculative climate fixes.
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Global South Perspectives has been a rewarding experience. Thank you for subscribing, reading, and sharing! https://t.co/RbUAkGpaVS
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BRAND NEW VIDEO for everyone who watched Mark Blyth's excellent contribution to our festival I hope you give this the same attention. "Scotland's Colonial Economy and the trappings of debt"
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