Africa

This report critically examines the trends and drivers of the debt-for-nature swap (DNS) in Africa, including its design frameworks, challenges, and potential, as currently implemented, and outlines the specific design principles for a fit-for-Africa DNS.

Le Forum académique d’Afronomicslaw est un réseau réunissant des étudiant.e.s, de jeunes chercheur.euse.s ainsi que des praticien.ne.s en début de carrière, animé.e.s par un intérêt marqué pour le droit international économique appliqué à l’Afrique et au Sud global. À travers un programme annuel structuré, le Forum propose un large éventail d’activités destinées à favoriser l’épanouissement intellectuel et professionnel de ses membres. Dans ce cadre, le Bureau Exécutif pour l’Afrique de l’Ouest, instance dirigeante du Forum dans la région, lance un appel à candidatures en vue de constituer sa deuxième cohorte.

The Afronomicslaw Academic Forum is a network of students, early-career researchers, and early-career practitioners interested in International Economic Law as it relates to Africa and the Global South. The Forum coordinates a wide range of activities to support the professional development of members over the course of one (1) year. The West African Executive Board, which is the leadership of the Forum in West Africa, is looking for students, early-career researchers, and early-career practitioners from the whole West African region who are passionate about international economic law to join the Forum as part of its second cohort.

The rise of Trump is beneficial for Africa. This forms the basis of my argument. Many African nations have grounded their foreign relations in misleading principles. Liberals often appeal to pity, proclaiming, “Oh, we are here to protect human rights.” Conversely, China states, “We are here for deals.” This reflects my perspective. If Africa shifts from this false idealism and adopts a pragmatic approach, it can forge beneficial agreements with the USA, China, and Europe. Such agreements should be founded on genuine, tangible values for value. This should be the guiding principle for international trade in Africa.

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 context, the African financial architecture and AMFIs are Africa’s response to the contemporary global financial architecture with privileged hierarchies that have historical roots in the post-colonial order of the post-Second World War era. Likewise, the claim that the IMF offers concessional loans misses the point of the historical and structural privilege that they enjoy. As such, an ahistorical approach to assessing the PCS status and treatment of AMFIs creates a presumed sense of superiority in comparison to other MDBs. Further, such an approach deepens the privilege and the structural and inequity issues in the current international financial architecture.

Dzah’s analysis succeeds in meeting the objective stated at the beginning of the book. It does so by diagnosing deficiencies of sustainable development and pointing the reader to a conceptual toolbox from which to draw ethical principles for re-imagining sustainable development. One angle of analysis that could have been addressed in this book is whether there are any drawbacks inherent to African ecocosmologies as a rationality for sustainable development. The analysis leaves the reader with an altogether positive outlook on the legal value of African ecocosmologies.

International law applies to the interchanging relationships and rules between states, including the establishment of norms and standards which govern their activities. This changing landscape of international law is recognised in one of the introductory paragraphs of this book: ‘international law possess an inherent transformative power to renew and remake itself if we are committed to reimagining the discipline and its fundamental characteristics, including the concept of sustainable development’ (pg 2). Sustainable development (SD) has been an integral part of international law discourse before the 1972 United Nations Conference on the Human Environment (UNCHE) and the United Nations Conference on Environment and Development (UNCED). Hence, this book focuses on the ahistoricism and influence of international law on the environment and sustainable development in African legal systems through a Third World Approaches to International Law (TWAIL) lens.

Today, November 1, 2024 two lawyers came to political power in Africa. In Botswana, Duma Boko President of the Umbrella for Democratic Change which includes his Botswana National Front swept to victory putting ending the 58 year-old hold on power of the independence ruling party the Botswana Democratic Party. So sweeping was Advocate Duma Boko victory that the ruling party is trailing fourth in the polls. To his credit, President Mokgweetsi Masisi conceded defeat even before the final results were announced and promised a peaceful transfer of power. Botswana therefore joins a few African countries like Ghana where there has been a peaceful transfer of power when an incumbent party loses to an opposition party.

The exponentially growing discomfort around Illicit Financial Flows (IFFs) globally is an indicator of the undesirable effects that result from the IFFs, ranging from social, economic and even political consequences. There is a general concurrence that IFFs take away substantial amounts of finances from the developing countries, which finances could otherwise be utilised in domestic investments, provision of public services such as education, security, health etc., and offsetting foreign debts. It is on this basis that discussions about IFFs in developing countries should not be postponed.