Africa, where close to half of its 1.2 billion people have access to electricity
, is set to become a world leader in renewable energy. As global business and development leaders met in Johannesburg, South Africa, to attend the Africa Investment Forum (AIF)
, one of the key focuses of the deals being discussed was around sustainable, renewable energy.
Buses carrying cross-border traders and goods from Cotonou in Benin to Bamako in Mali have recently been using the Lomé route — travelling through the capital of Togo and then getting onto the Ouagadougou corridor on their way to the Malian capital.
The International Monetary Fund (IMF), the World Bank and the World Trade Organization (WTO), all dominated by rich countries, have long promoted trade liberalization as a ‘win-win
’ solution for “all people—rich and poor—and all countries—developed and developing countries”, arguing that “the gains are large enough to enable compensation to be provided to the losers”.
The UN Climate Action Summit
2019, which took place in the days leading up to the 74th UN General Assembly, delivered new pathways and practical actions for governments and private sector to intensify climate action.
The Board of Governors of the African Development Bank will hold its fifth extraordinary meeting on Thursday, 31 October 2019, at the Sofitel Abidjan, Hotel Ivoire. During the meeting, the Bank’s shareholders will make signification decisions, and a major announcement is expected.
Leading economic indicators have slowed or reversed. Criticisms of official statistics are mounting. But the IMF and World Bank continue to forecast 6-percent growth by simple extrapolation.
A Republican US Senator of a bygone era was once quoted as saying “a billion here, a billion there, and pretty soon you're talking about real money.”
Industrial policy refers to the promotion of new investments and technology by governments to encourage the growth and development of specific economic sectors. However, scepticism
persists about the feasibility and desirability of using industrial policy, especially of the ability to ‘pick winners’, often accused of leading to ‘propping-up failing industries’.
Public or state development banking will be vital to achieving the Sustainable Development Goals, argues UNCTAD’s Trade and Development Report 2019
Ongoing World Bank led efforts
seek to leverage private finance via shadow banking by using public money to guarantee handsome returns managed by giant investment houses
. Such financialization introduce new costs and risks
to financing investments for sustainable development, decent work and renewable energy.
Rapid urbanization has provided most cities in the world with opportunities to provide more sustainable, vibrant, and prosperous centers for their citizens. But they must first address challenges such as inadequate infrastructure investments, pollution and congestion, and poor urban planning, according to a new report released today.
Headwinds are blowing amid IMF warnings of a “synchronised slowdown” in global economic growth, yet Africa’s investment drive is still gathering pace, supported by intense international competition in development finance.
In just a few weeks, the second edition of the annual Africa Investment Forum will kick off in Johannesburg, South Africa, with development finance institutions determined to tackle the continent’s infrastructure investment challenges and advance Africa’s economic transformation agenda.
The OECD Secretariat published its proposed ‘unified approach
’ to reform international tax rules to address tax challenges posed by digitalization on 9 October 2019.
Under current rules, there is little chance of a company being taxed without its physical presence in the country concerned. But digitalization enables many businesses to remotely conduct economic activities affecting a national economy without a direct physical presence.
Good news: the graph depicting climate investments has been steadily increasing. Climbing from the 2012 figure of $360 billion in climate investments across the world to close to $600 billion currently.
As a result of climate change, resource extraction industries in Africa will be impacted by asset stranding, researchers say.
According to official statistics, Luxembourg, a country of 600,000 people, hosts as much foreign direct investment (FDI) as the United States and much more than China. Luxembourg’s $4 trillion in FDI comes out to $6.6 million a person.
Bangladesh’s capital has some of the worst traffic in the world. But hope is on the way in the shape of a new mass rapid transit system.
A conjuncture of developments, short- and medium-term, have conspired to further slow the world economy. In recent months, the International Monetary Fund (IMF), among others, has acknowledged that global economic prospects are worsening, forcing it to make not one, but at least five consecutive growth forecast revisions, all downward.
When world leaders gathered in New York for the 70th session of the General Assembly back in 2016, and proclaimed the period 2016-2025 as the Third Industrial Development Decade for Africa (IDDA III), it reaffirmed the importance of industrialization in supporting Africa’s own efforts towards sustained, inclusive and sustainable economic growth and accelerated development.
UN Secretary-General Antonio Guterres describes the ongoing crisis as a “climate emergency”-- as the world continues its hard fought battle against devastating droughts, floods, hurricanes and rising sea levels that threaten the very existence of small island developing states located in low-lying areas.