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African countries are facing tough financial times. External debt has tripled since 2008, dramatically pushing up the amount being spent on servicing loans. This means there’s less money to spend on critical things like health and education. Kevin P. Gallagher and Abebe Shimeles argue that the International Monetary Fund (IMF) has the means to make a huge difference by making better and more extensive use of Special Drawing Rights. These aren’t a currency,
but countries can use them to pay back IMF loans, or they can exchange them for foreign currencies. African countries should use the IMF meetings underway in Washington to lobby for more of these rights to be issued and for their distribution
to be made more equitable and easier.
Sasol’s petrochemical plant in Secunda employs thousands of South Africans and makes a substantial contribution to the country’s economy. It produces plastics, fertilisers and explosives as well as 30% of the country’s liquid fuels. But the plant is coal-fired, making it the world’s largest single-point emitter of greenhouse gases. Climate change and an unreliable coal supply mean the plant is nearing the end of its life. Rod Crompton and Bruce Douglas Young set
out why there’s no simple solution because policymakers must balance the need to reduce emissions with the realities of thousands of jobs and billions in economic output.
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Kevin P. Gallagher, Boston University; Abebe Shimeles, University of Cape Town
The $33 billion that African countries received under the IMF’s special drawing rights after COVID didn’t add to their debt, came without conditions and didn’t cost donors a cent.
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Rod Crompton, University of the Witwatersrand; Bruce Douglas Young, University of the Witwatersrand
Sasol’s Secunda facility is the largest greenhouse gas emitter in the world. New research looks at what’s needed to move the petrochemical manufacturer away from coal.
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Natasha Joseph, The Conversation
Digital immersion has many benefits – and plenty of pitfalls, too.
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Gwinyai Regis Taruvinga, University of the Witwatersrand
Water in Zimbabwe needs to be managed at a local level, so that communities have a say in their own water supply. First, the government will need to upgrade water systems.
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From our international editions
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Scott Williamson, University of Oxford; Eddy S. F. Yeung, Emory University; Jonathan A Chu, National University of Singapore
Democracy means different things to different governments. But what do the people think?
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Farah Nibbs, University of Maryland, Baltimore County
The islands’ vulnerability has roots deep in the exploitative systems forced on them by colonialism, from slave-based land policies to ill-suited development that put lives in harm’s way.
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Doug Schwartz, Quinnipiac University
Hold your breath and make sure you vote, because the result is likely to be a squeaker.
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Tristan Dunning, Macquarie University; Martin Kear, University of Sydney; Shannon Brincat, University of the Sunshine Coast
Failure by the West to rein in Israel’s actions has led to accusations of ‘double standards’ regarding international law.
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