Dangerous Scramble for Renewable Energy Resources

The growing and changing material requirements for new technologies have triggered natural resource scrambles for strategic minerals, generating dangerous rivalries fought out in the global South.

Enhancing Mining Revenue

The commodity boom early this century was mainly driven by mineral prices. Yet, mining’s contribution to developing countries’ revenue has been modest, largely due to massive tax evasion and avoidance.

Finally, a Real Chance for International Tax Cooperation

After decades of resistance by rich nations, African governments successfully pushed for the United Nations to lead on international tax cooperation. All developing countries and fair-minded governments must rally behind this initiative.

UN Financing Appeal Last Hope for SDGs and Climate?

The United Nations Secretary-General’s Dialogue on Financing for Development on 20 September may well be the world’s last chance to save the Sustainable Development Goals (SDGs) and curb global warming in time.

UN Must Reclaim Multilateral Governance from Pretenders

International governance arrangements are in trouble. Condemned as ‘dysfunctional’ by some, multilateral agreements have been discarded or ignored by the powerful except when useful to protect their interests or provide legitimacy.

World Bank Climate Finance Plan Little Help, Unfair

Rich nations have contributed most to the current climate crisis. They are primarily responsible for the historical emissions and greenhouse gas (GHG) accumulation of the last two centuries.

Mining Revenues Undermined

The primary commodity price boom early this century has often been attributed to a commodity ‘super-cycle’, i.e., a price upsurge greater than what might be expected in ‘normal’ booms. This was largely due to some minerals as most agricultural commodity price increases were more modest.

Government Health Financing for All, Not Insurance

To achieve universal health coverage, people need public healthcare systems providing fair access to decent health care. This should be an entitlement for all, regardless of means, requiring adequate, appropriate and sustainable financing over the long term.

Exchange Rate Movements Due to Interest Rates, Speculation, Not Fundamentals

Currency values and foreign exchange rates change for many reasons, largely following market perceptions, regardless of fundamentals. Market speculation has worsened volatility, instability and fragility in most economies, especially of small, open, developing countries.

Improving Healthcare for All

In 2015, almost all heads of government in the world committed to the United Nations’ Sustainable Development Goals (SDGs), including universal health coverage (UHC). This was consistent with the World Health Organization’s commitment to Health for All.

Can Carbon Trading Stop Global Heating?

As our planet continues to heat up at an alarming rate, carbon credits, markets and trading have been promoted as effective measures to combat global warming. While there is an urgent need to curb planetary heating, growing reliance on this innovation is problematic, to say the least.

US Policies Slowing World Economy

Few policymakers ever claim credit for causing stagnation and recessions. Yet, they do so all the time, justifying their actions by some supposedly higher purpose.

Needed Global Financial Reforms Foregone yet Again

Calls for more government regulation and intervention are common during crises. But once the crises subside, pressures to reform quickly evaporate and the government is told to withdraw. New financial fads and opportunities are then touted, instead of long needed reforms.

Rich Nations Doubly Responsible for Greenhouse Gas Emissions

Natural flows do not respect national boundaries. The atmosphere and oceans cross international borders with little difficulty, as greenhouse gases (GHGs) and other fluids, including pollutants, easily traverse frontiers.

AGRA Gets Make-Up, Not Make-Over

Despite its dismal record, the Gates Foundation-sponsored Alliance for a Green Revolution in Africa (AGRA) announced a new five-year strategy in September after rebranding itself by dropping ‘Green Revolution’ from its name.

Open Veins of Africa Bleeding Heavily

The ongoing plunder of Africa’s natural resources drained by capital flight is holding it back yet again. More African nations face protracted recessions amid mounting debt distress, rubbing salt into deep wounds from the past. With much less foreign exchange, tax revenue, and policy space to face external shocks, many African governments believe they have little choice but to spend less, or borrow more in foreign currencies.

COP27 Fiddling as World Warms

The latest annual climate conference has begun in the face of a worsening climate crisis and further retreats by rich nations following the energy crisis induced by NATO sanctions after the Russian invasion of Ukraine. Copping out again The 27th Conference of the Parties (COP 27) to the United Nations Framework Convention on Climate Change (UNFCCC) is now meeting in Sharm-el-Sheikh, Egypt, from 6 to 18 November 2022.

Limits to Growth: Inconvenient Truth of Our Times

Ahead of the first United Nations environmental summit in Stockholm in 1972, a group of scientists prepared The Limits to Growth report for the Club of Rome. It showed planet Earth’s finite natural resources cannot support ever-growing human consumption.

Developing Countries Need Monetary Financing

Developing countries have long been told to avoid borrowing from central banks (CBs) to finance government spending. Many have even legislated against CB financing of fiscal expenditure. Central bank fiscal financing Such laws are supposedly needed to curb inflation – below 5%, if not 2% – to accelerate growth. These arrangements have also constrained a potential CB developmental role and government ability to respond better to crises.

Macroeconomic Policy Coordination More One-Sided, Ineffective

Widespread adverse reactions to the UK government’s recent ‘mini-budget’ forced new Prime Minister Liz Truss to resign. The episode highlighted problems of macroeconomic policy coordination and the interests involved.