GEF, IMF, other partners team up to launch climate finance initiatives @Madagascar, Benin, Côte d'Ivoire - ITREALMS

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The Global Environment Facility (GEF), International Monetary Fund (IMF) and other partners have teamed up to launch climate finance initiatives during country platforms in Madagascar, Benin, and Côte d'Ivoire, reports ITREALMS.

At the UN Climate Change Conference in Baku, the International Monetary Fund, the Global Environment Facility, development banks, international financial institutions, the private sector, and other development partners launched initiatives to catalyze climate finance in the three cities.

IMF, World Bank, CBN urged to lead Braille sign insertion in currency notes

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The trio of International Monetary Fund (IMF), WorldBank and Central Bank of Nigeria (CBN), have been urged to lead agitations for the insertion of Braille signs on global currency notes, reports ITRealms.

Braille, ITRealms gathered, is a tactile writing system used by people who are visually impaired and is traditionally written with embossed paper.

ITRealms also gathered Braille users could read computer screens and other electronic supports thanks to refreshable braille displays available nowadays.

The Monitoring Officer, Justice, Development and Peace Centre (JDPC), Mr. Abiodun Abacha Adebesin, made this call, pointing out that its high time global financial institutions consider adding Braille signs on our paper currencies in fulfillment of the one of the 2030 Sustainable Development Goals (SDGs) of not leaving any one behind.

According to him, the blinds have been cheated on so many occasions because they rely on people to determine the denominations of the money they are holding and this is really saddening.

“If this done by all financial institutions in the world with the support of IMF and world bank, this will be in line with agenda 2030 'Leave no one behind'” Adebesin said.

ITRealms, recalls that effort at inclusiveness is at the core of the 2030 Agenda for Sustainable Development.

According to SDG experts, inclusiveness speaks to the notion of empowerment and the principle of non-discrimination, which is reflected in the pledge to leave no one behind and in the vision of a “just, equitable, tolerant, open and socially inclusive world in which the needs of the most vulnerable are met” and “a world in which every country enjoys sustained, inclusive and sustainable economic growth and decent work for all.”

In addition,  this reflected both in goals and targets, including Goal 4, which refers to inclusive and equitable quality education; Goal 8, which refers to sustained, inclusive and sustainable economic growth; Goal 9, which refers to inclusive and sustainable industrialization; Goal 11, which refers to inclusive, safe, resilient and sustainable cities and human settlements; and Goal 16, which refers to peaceful and inclusive societies for sustainable development and to accountable and inclusive institutions at all levels.

This assertion of ‘leave no one behind’ further refers to the need to include everyone in societal processes, and conveys the notion that people should not only be allowed to thrive, but should have a voice and effective opportunities to shape the course of development. Thus, the Agenda is relevant to all countries and all people, belongs to everyone, and its success will depend on the active implication and engagement of all actors and on reaching the furthest behind first.

Chuks Egbune/GEE

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Adeosun: Nigeria’s economic challenges are surmountable

ITRealms:

… Resists calls for IMF solution

The Finance Minister, Mrs Kemi Adeosun, has explained why the Federal Government is not excited about calls to apply for loan facility from the International Monetary Fund (IMF) to tackle some of the current economic challenges that Nigeria is facing due to the slump in global oil prices, reports ITRealms.

Adeosun gave this clarification on Friday at a Spring Meetings of the IMF/World Bank alongside other speakers including IMF Deputy Managing Director Mitsuhiro Furusawa and Rwanda Finance Minister Claver Gatete.

The Minister, who was a speaker at a panel discussion on Africa titled, “Sub-Saharan Africa: Just a Rough Patch,” said Nigeria is adapting to its new realities and it is implementing fiscal policies to steer the country back on track for stable growth with a diversified economy. 

These policies and investment should enable Nigeria to show positive growth in 2017.

Adeosun emphasised that what the country is passing through is surmountable, adding that government is already applying a cocktail of measures to address the problem.

“Nigeria is not sick and even if we are, we have our own local remedy,” the Minister said, in an apparent response to a question on why the government has refused to apply for IMF loans.

Noting that the real vulnerability in the Nigerian economy is over-dependence on a single source of revenue, oil, the Minister said, “We have resolved to build resilience into the country’s economy to hedge against future oil shocks. This is because dependence on oil brings about vulnerability and laziness. So we are doing a combination of things to diversify our economy, with revenue mobilisation to enable sufficient investment in developing the non-oil sectors.”

We have a great opportunity to reset the Nigerian economy and ensure that as we go forward, growth will be in a sustainable manner so that we won’t be vulnerable to oil price fluctuations, and with a truly diversified economy we would have enabled opportunities for wealth creation that would have trickles down to every Nigerian.

The compelling business case in Nigeria is that the fundamentals remain very strong, a teaming, young growing population, rich in resources and with a government determined to finally get it right. The great thing is that long term investors recognize this and understand the difference between short term and long term issues and the case for Nigeria persuades one to plan for the longer term opportunities.

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Pix: Finance Minister, Mrs Kemi Adeosun