Based on a careful analysis of historical and contemporary capitalism in Zimbabwe, it has been shown that money and foreign currency management is deeply political. Hence, instead of being applicable to emerging markets only, there is a case for extending Alami’s work to developing countries in general. Alami’s book is highly recommended to anyone interested in understanding the functioning of money, finance, and indeed the logic of foreign exchange policies in sub-Saharan Africa.
August 20, 2021
ABOUT THE WBG AFRICA FELLOWSHIP PROGRAM
The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.
The ANRC's volume on 'Rethinking Land Reforms in Africa: new ideas, opportunities and challenges' delivers what it promises: a diverse and stimulating compilation of perspectives over the relationship between land and the socio-economic conditions of people in Sub Saharan Africa. Its main merits are the reclamation of the political nature of land, the combination of academic and non-academic contributors who break with the monotone and hyper-specialized vocabulary that tend to monopolize conversations around land reforms, and the variety of topics and perspectives (including in disagreement).
South Sudan - Africa’s latest independent country – is facing its second ICSID claim brought by Qatar National Bank, a Qatari State-owned entity (“SOE”). It was reported that the dispute is related to default by the BSS (which is the Central Bank of South Sudan) on the payment of a US$ 700 million loan it borrowed during the civil war.
The role of the international community in achieving adequate access to energy and reducing energy poverty, particularly at the regional level, is the central theme of Dr Victoria R Nalule’s book under this review.
Nalule’s book is a comprehensive critical analysis of the energy access and energy poverty issues that plague Sub-Saharan Africa (“SSA”). She conducts this discourse within the energy transition discussion and presents it through the lens of the sustainable development theory.
I am proud to present this book symposium on my book titled, Energy Poverty and Access Challenges in Sub-Saharan Africa: The role of Regionalism (Palgrave, 2019). With the increasing role of regionalism and globalism, this book discusses the various energy challenges in Africa, and how these can be addressed through regional cooperation.
The COVID-19 crisis is likely to make countries in the global south accumulate more debt in a global economic environment where repayment of current debt will be difficult. The speech by Thomas Sankara on the morality of debt repayment asks us very difficult questions which humanity must collectively confront if debt crises are to become relics of past economics. The collective inability by the global south to assert itself on negotiating tables and to recreate itself in the aftermath of various global crises has been a sad misuse of crises.
The shortcomings of the current legal and policy framework does not mean that responses to COVID19 should be lacking. Instead, there is adequate room for responses as we learn lessons and take notes to do better. The best way to move policy and law is to ensure that it is constantly reviewed to make sure they serve their purpose.