It is time to give highly indebted countries a fresh start
By Rachid Bouhia, Economist, and Patrick Kacmarczyk, Consultant, UNCTAD[1]
Fast deterioration of financial conditions in the Global South
Sustained investments are a prerequisite for attaining the Sustainable Development Goals (SDGs). Without stable financial conditions, however, these investments are not possible. Roller coaster capital markets prevent investors in the real economy from predicting their rate of return, leaving only financial speculators in the game.
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The Energy Transition or Development – Will Developing Countries Need to Choose?
By Laura Parry-Davies, Digital Communications Officer, OECD Development Centre
Countries with low access to energy and minimal contributions to greenhouse gas emissions are being asked to prioritise the low-carbon transition over economic growth.
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Four ways to make development finance fairer and more effective
By Harald Hirschhofer, Senior Advisor, TCX
Low-income country debts are mostly owed to multilateral and bilateral official lenders. Unfortunately, these development institutions’ default practice is to lend – from a borrower’s perspective – in foreign currency, i.e. USD, Euros or Yen. As they are risk conservative, they put the currency risk on the shoulders of low-income country borrowers. Although on concessional terms, such hard-currency development finance frequently turns out to be more expensive than borrowers can afford. The true costs of borrowing are hidden behind a veil of currency risk.
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How to build global resilience in a multi-crisis world
By Laura Parry-Davies, Digital Communications Officer, OECD Development Centre
From climate change to COVID-19 to Russia’s war against Ukraine, the world is weathering a series of multiple, cascading crises. How can we – the international community – scale-up our response?
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India at the helm of the G20
By Ambassador Dr. Mohan Kumar, Former Indian Ambassador to France and Dean/Professor, OP Jindal Global University, Sonipat, India
On 1 December, India assumed the presidency of the G20 for the first time. This is a momentous event for India and for the G20, at a crucial time in the world.
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Three challenges threatening the multilateral development system and possible solutions
By Abdoulaye Fabregas, Economist, Jieun Kim, Policy Analyst, OECD Development Co-operation Directorate, and Olivier Cattaneo, Head, Policy Analysis and Strategy Unit, OECD Development Co-operation Directorate, and Adjunct Professor, Paris School of International Affairs in SciencesPo
Halfway into the implementation timeframe of Agenda 2030, the multilateral development system is under growing pressure, faced with the continued fallout from the COVID-19 pandemic and the ongoing war launched by Russia against Ukraine. The war has aggravated global inflationary pressures; food and energy prices are soaring, threatening the livelihoods of the most vulnerable. This week, the UN launched a record USD 51.5 billion humanitarian appeal for 2023. In this challenging context, our new report shows that the multilateral development system is confronting three paradoxes.
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Le numérique au service de l’éducation en Afrique de l’Ouest
Par Guy Mehou, Économiste Macro-Financier & Charles Millogo, Responsable de l‘Économie Numérique, La Banque Ouest Africaine de Développement (BOAD)
On entend souvent dire qu’avec Internet, l’accès au savoir est simplifié. Les possibilités données aujourd’hui au plus grand nombre de faire des recherches sur Internet ou de se former via des MOOC (cours en ligne ouverts et massifs) ont significativement accru l’accès à des contenus. Avec Internet, la connaissance n’est plus réservée à une élite mais est dorénavant l’affaire de tous. De plus, une part accrue de ce savoir est disponible gratuitement, pour peu que l’on dispose d’une connexion Internet, et donc à la portée de chacun. Pour un enseignant, donner un cours en ligne permet d’avoir une audience décuplée et pour un étudiant, suivre un cours en ligne permet de choisir le moment privilégié pour s’instruire.
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Can digitalisation spur growth and close gaps?
By Welby Leaman, Senior Director Global Policy Strategy, Walmart, Ana Valero, Director of Public Affairs and Regulatory for Latin America, Telefónica and Amy Alvarez, AVP, International External and Regulatory Affairs, AT&T [1]
Accelerated digital transformation has boosted e-commerce and digital service offerings. Across 13 African countries, more than 1 in 5 firms started using or expanded their use of digital technology in response to the shock of the pandemic. Decades of investment in connectivity, public-private collaboration and greater adoption of digital technologies by the public sector, including for public services, further accelerated digital transformation across emerging markets. Now, as countries struggle to return to growth, digital transformation can accelerate productivity and global trade. A 10% increase in digital connectivity between countries has been shown to increase trade in goods by nearly 2% on average, trade of parcels by 4%, and trade in services by over 3%.
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Why today’s debt crisis requires a different kind of thinking
By David McNair, Executive Director for Global Policy at The ONE Campaign and Non-Resident Scholar at the Carnegie Endowment for International Peace and Daouda Sembene, CGD Distinguished Nonresident Fellow and AfriCatalyst CEO
African countries have more than doubled their debt stocks in the last decade. In an era of historically low interest rates that made sense, given the continent’s massive infrastructure needs, high security spending and rising social expenditure driven by a rapidly growing population. But that era is now over.
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Growing green in Mozambique
By Köeti Serôdio, Programme Manager Resilience (Humanitarian, Climate Action & Social Protection), Growing Green, Embassy of Ireland
Marta Uetela is a young Mozambican who is transforming the lives of people with disabilities. She founded the revolutionary green start-up BioMec, which developed the world’s first prosthetics and eco-wheelchairs made of recycled plastic marine litter.
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