AFRODAD Civil Society Policy Forum sessions – Friday 19th April 2024
1st Session – Rebalancing Public Finance for Justice and Equity: African Perspectives on IDA21
In the context of the IDA21 replenishment cycle, speakers from African civil society will outline the need for a more just and equitable public finance system that fundamentally rebalances global power relations. We will demonstrate how the World Bank is still causing harm by promoting the privatization and financialization of public goods; followed by proposals for public finance to scale up people-centered renewable energy while keeping to the Paris Agreement goal of 1.5. Experiences from selected countries and recommendations from selected African countries including Senegal, Mozambique, and Tunisia will be shared.
2nd Session – Moving Beyond Current Debt and Development Crisis: Solution for Genuine Debt Sustainability
The debt crisis is no longer a risk but a reality in many countries. It is therefore key to restore debt sustainability in a way that ensures governments capacity to guarantee human rights, gender equality and climate action while also looking at the crisis from a structural perspective. The panel will explore how to effectively solve this debt crisis considering it is as well a development crisis.
3rd Session – Beyond Size in IDA21 Replenishment – What About Socio-economic Transformation?
IDA21 happens in a polycrisis context and within the framework of the WBG Evolution Roadmap. While most discussions will focus on its finance, this session will discuss the policy framework to deliver socioeconomic transformation. This implies examining IDA’s experience and addressing the structural causes of why developing countries are stuck in recurrent borrowing.
4th Session – Navigating the Intertwined Debt and Climate Crises: Unveiling and Assessing Solutions
In this session, we will explore some of the solutions being proposed to address the debt-climate change trap that many Global South countries are facing, including Climate Resilient Debt Clauses and debt for climate/nature swaps, and interrogate what impact, if any, they are likely to have for Global South countries.
