Wednesday, November 20, 2024
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Desiderio Consultants Ltd. is a think tank and a network of independent professional international development consultants established to promote and influence customs & trade-related policies in African nations to achieve trade facilitation reforms aimed at improving international and regional trade
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What is wrong with monetary unions in Africa?

A recent article published on Burundi Eco provides an update on the progress of the creation of a common currency in the East African Community (EAC). The article notes that despite the efforts made by central banks in this region to harmonize their policies and achieve macroeconomic convergence among their States, this project is becoming increasingly difficult to be achieved. And this situation is not unique to the EAC, as similar attempts in other African regions are facing the same challenges...

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Presentation of the HESPI Strategic Plan 2024-2028

The Horn Economic and Social Policy Institute (HESPI) is a regional think tank headquartered in Addis Ababa, Ethiopia, which was established in 2006 for the member countries of the Intergovernmental Authority for Development (IGAD) in the Horn of Africa in particular, and developing countries at large. HESPI has garnered excellence in providing high quality economic and social policy research for evidence-based and action-oriented strategic reforms. In October this year it was awarded with the "Best research output" prize by the African Capacity Building Foundation, a specialized agency of the African Union with the mandate to build human capital and institutional capacity for Africa's sustainable development. This year HESPI will organize in Nairobi (where it maintains a regional office), the presentation of its new strategic plan, with a rich calendar of discussions on policy research, institutional capacity building and partnership and cooperation initiatives, with sectorial panels on trendy topics, like the African Continental Free Trade Area (AfCFTA).

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New UNCTAD report paints a dim scenario for Africa’s development in the next years

The Trade and Development Report 2024 is out. The flagship publication of UNCTAD paints a gloomy picture of global development dynamics for the next years to come. The three major engines of the global economy (China, the United States of America and the European Union) are on a decelerating or weakened path and in the southern hemisphere economic growth is slowing down, with exposure to global shocks and the risk of trade fragmentation that are on the rise. The only region that displays a more accelerated growth path is South Asia. The report concludes by forecasting a global growth rate for 2024 and 2025 of less than 3%. What is more worrisome, the report notes, is that this generalized low growth scenario is increasingly intertwining with high interest rates, especially in developing countries. This raises an alarm bell on the sustainability of global financial system, which needs to be urgently realigned to the needs of such nations, especially the most vulnerable ones. More affordable, reliable and longer-term financing options are necessary to unlock investment able to sustain the development agenda of these countries. An appeal is launched to multilateral and regional banks to increase concessional finance through the utilization of innovative financial instruments.

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Luxury tourism: an untapped emerging market in Africa

As the global appetite for luxury tourism continues to grow, many African countries are striving to tap into this profitable market by offering tailored travel experiences that combine entertainment, relaxation, and exclusivity.

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Can AI help to optimize infrastructure planning in Africa?

The Africa’s public infrastructure deficit is widely recognized by economic literature and policy discourse. The 2018 African Economic Outlook published by the African Development Bank estimated the Africa’s road infrastructure needs in $130-170 billion per year, with a financing gap in the range of $68-108 billion. In August this year, the Bank revised this estimation, noting that such needs have now reached levels between $181 and $221 billion per year. But Large gaps also remain in other areas, like electricity, internet, and basic sanitation services. If on one side these deficits reveal a development path in Africa that is still long to be traveled, on the other hand also suggest that public infrastructure investments in Africa are an opportunity for high returns for economic activity and wealth generation. But at one condition: that the development of infrastructure projects is correctly planned so to become attractive for investors. Nobody invests in transport infrastructure, electricity or water supply projects whose operational efficiency, cost-effectiveness, and overall competitiveness have not been carefully evaluated. Infrastructure needs to be located where its economic effects are mostly felt, that’s the point.

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