Out of Africa: Rich Continent, Poor People

Capital flight from the global South is immense, with widespread adverse effects. A new book proposes measures to curb, even reverse capital flight from Africa. It also offers pragmatic lessons for many developing countries.

The World Can Stop Capital Flight Now

Curbing capital flight from developing countries is long overdue. New sanctions against Russian oligarchs show this can be done with the requisite political will. Recent research also shows how to more effectively stop capital flight.

Sri Lankan Economic Crisis Inflicted by Self-Serving Elite

Once deemed a basic human needs success story, Sri Lanka (SL) is now in its worst economic crisis since independence in 1948. Nonetheless, SL’s ‘moment of truth’ now offers lessons for other developing countries.

Oil Crisis Offers Opportunities to the South and for the Green Energy Transition

The oil and gas supply crisis unleashed by the Russian invasion of Ukraine represents new business opportunities for the oil-producing countries of the developing South, both traditional and emerging, and also for accelerating the global transition to green forms of energy.

China Debt Traps in the New Cold War

As China increases lending to other developing countries, ‘debt trap’ charges are growing quickly. As it greatly augments financing for development while other sources continue to decline, condemnation of China’s loans is being weaponized in the new Cold War.

Egypt’s Tourism Hit by Ukraine Crisis

Tourism to Egypt’s GDP is as vital as the Nile to its people. After Egypt’s tourism sector began to recover following the Russian plane crash in 2015. Then COVID hit, and now the Ukrainian war shot a bullet through its heart.

Deepening Stagflation: Out of the Frying Pan into the Fire

The world is sailing into a perfect storm as key leaders seem intent on threatening more war, albeit while proclaiming the noblest of intentions. By doing so, they block international cooperation to create conditions for sustainable peace and shared prosperity for all.

Indian Agriculture Towards 2030

India began its journey as an independent nation in 1947 with fresh memory of the Bengal Famine of 1943 which claimed 1.5 to 3 million lives. Against this backdrop, the First Five Year Plan (1951-56) prioritized agriculture which, however, shifted to heavily industrialization in the second Plan.

Unity of Purpose to Accelerate Africa’s Sustainable Development

The COVID-19 pandemic reversed several development gains on the continent, and Africa’s leaders are convinced stronger cooperation in boosting investment in green growth will help Africa meet the Sustainable Development Goals (SDG).

Donors Must Rethink Africa’s Flagging Green Revolution, New Evaluation Shows (Commentary)

• A scathing new analysis of the Alliance for a Green Revolution in Africa (AGRA) finds that the program is failing at its objective to increase food security on the continent, despite massive funding from the Bill & Melinda Gates Foundation and the US, UK, and German governments.

NGOs Seeking a Monterrey+20 Summit on Financing for Development

This week, exactly 20 years ago, world leaders adopted the United Nation’s Monterrey Consensus. They committed to “Confronting the challenges of financing for development” with a global response and to creating a fully inclusive and equitable global economic system.

Stagflation Threat: Be Pragmatic, Not Dogmatic

“If your only tool is a hammer, every problem looks like a nail”. Still haunted by the clever preaching of monetarist guru Milton Friedman’s ghost, all too many monetary authorities address every inflationary threat or sign they see by raising interest rates.

Inflation Targeting Voodoo

All over the world, people expect policies by central bankers trained in economics to have a sound scientific base. But in fact, inflation targeting is an article of faith with neither theoretical nor empirical basis.

Financialization at Heart of Economic Malaise

COVID-19 has exposed major long-term economic vulnerabilities. This malaise – including declining productivity growth – can be traced to the greater influence of finance in the real economy.

Inflation Paranoia Threatens Recovery

Inflation hawks are winning the day. The latest ‘beggar thyself’ race to raise interest rates has begun. This ostensibly responds to the spectre of runaway inflation, supposedly retarding economic growth and progress, and thus threatening central bank ‘credibility’.

China Opens Embassy in Nicaragua for First Time since 1990 after Taiwan Ties Cut

For the first time since 1990, China has (re)opened an embassy in Managua, Nicaragua, less than a month after Nicaragua cut ties with Taiwan. The (re)opening of the embassy on January 1, 2022 comes amidst the backdrop of US-China tensions, particularly over trade and Taiwan, as well as worsening Cross-Straits relations.

Ecstasy as Zimbabwe’s Smallholder Farmers Secure European Pineapple Market

In her wildest dreams, smallholder farmer Sarudzai Sithole never imagined that her pineapples could someday stock the produce section of Europe’s finest supermarkets.

What Explains Vaccination Rates in EBRD Regions?

Officially reported deaths from Covid-19 started to rise again in autumn 2021 in a number of economies in the EBRD regions. While in advanced economies in Europe the mortality rate has remained low despite the pick-up in Covid-19 cases, in the EBRD regions the mortality and infection rates continued to move in tandem.

Africa Should Bargain Hard for COVID Vaccine Equity: Lessons from Indonesia during Avian Flu

Many countries around the world have punished most of the African continent for the scientific discovery of the Omicron variant through the imposition of travel bans.

Corporate Fear Drives Caribbean Vaccine COVID-19 Mandates

When face-to-face Cabinet meetings resumed in Jamaica following more than a year of virtual meetings due to COVID-19, Ministers lined up to have their immunisation cards inspected.

Experts call for Improved Protection of African Fisheries

With subsidies of global fisheries back on the World Trade Organisation’s agenda, experts are calling for African governments to upscale the protection of the sector long plagued by activities that continue to threaten the continent’s blue economy.