The fuel subsidy removal, while potentially necessary for long-term fiscal sustainability, has undeniably exacerbated the cost-of-living crisis for many Nigerians. The government's communication regarding the benefits of the reform has not resonated with a population grappling with immediate economic hardship. To regain public trust, the government must demonstrate tangible progress in utilizing the freed-up funds for social development and implement more effective and transparent social safety nets. Moving forward, the government must prioritize a more phased approach to economic reforms, coupled with robust measures to mitigate their immediate impact on the most vulnerable segments of society.

By contrast, the reciprocal tariffs are an unprecedented reversal not only of the US’s commitment to free trade, but also of its leadership in establishing the institutions overseeing this commitment like the World Trade Organization and its dispute settlement system. The trade war already triggered by these tariffs will irreversibly harm the poorest countries while fundamentally undermining the ability of global trading of the World Trade Organization to do anything about this. Even more, this policy is unlikely to meet one of its major objectives, reshoring manufacturing back to the US.

The panelists in this inaugural webinar of the Canadian Yearbook of International Law will focus on some of these emerging questions. Comprising of academia, practice and policy experts, our panelists seek to shed light on some of the nagging issues of our day in search of a way forward.

Join us for the launch of Afronomicslaw’s latest quarterly report, "The Impact of IMF Recommended Consumption Tax Policy on Africa’s Rising Public Debt Levels" by Marie-Louise Aren. This report critically explores the IMF’s consumption tax policies and their adverse effects on borrower nations, particularly in Africa and the Global South. It examines how the IMF’s emphasis on consumption taxes like VAT, when used as a tool for revenue mobilization, often leads to regressive outcomes by exacerbating inequality, increasing poverty, and contributing to unsustainable public debt.

This report critically explores the IMF’s consumption tax policies and their adverse effects on borrower nations, particularly in Africa and the Global South. It examines how the IMF’s emphasis on consumption taxes like VAT, when used as a tool for revenue mobilization, often leads to regressive outcomes by exacerbating inequality, increasing poverty, and contributing to unsustainable public debt. Through an analysis of the global debt architecture evolution and a review of IMF-backed tax reforms across various regions, the report highlights the disconnect between the IMF’s policy prescriptions and the socio-economic realities of developing countries. The study underscores the need for reforming the international debt architecture to address the negative impacts of these policies and proposes recommendations for more equitable and sustainable debt and tax solutions.

In conclusion, the government's multifaceted approach to addressing its economic challenges and debt burden is evident in both its fiscal and non-fiscal strategies. While the implemented fiscal measures represent attempts to manage the debt crisis, the focus on governance and anti-corruption, exemplified by the IMF's comprehensive review, signifies a recognition of the underlying systemic issues. This review, mirroring similar assessments conducted in countries like Benin, where the IMF engaged in a detailed governance diagnostic mission from June to September 2022, is crucial. The success of this initiative, however, hinges on the government's genuine commitment to implementing the necessary reforms to enhance efficiency and accountability.

Discrepancies between the aspiration to apply ICL indiscriminately and the reality of its application described above drive perceptions of double standards. In this blog post, I will sketch the origins and context that led to double standards in ICL and consider how to differentiate double standards from selectivity and whataboutism. I will argue that recent developments illustrate double standards within the ICL framework. Given that the legitimacy of international criminal justice crucially depends on its impartial application, it remains paramount to work towards unmasking and remedying such double standards in ICL.

We invite abstract submissions for an interdisciplinary workshop on Energising Sustainable Development: A Review of SDG 7, supported by the Society of Legal Scholars’ Small Projects and Events Fund.

In this quarterly report, I argue that the climate crisis has provided theglobal finance industry an opportunity to make exorbitant profits frommajority Black and Brown countries in the Global South. I show how theglobal finance industry is leveraging its muscle over climate-vulnerable andheavily indebted countries in the Global South through complex financialtransactions.