It is urgent to rethink and transform agrifood systems by accelerating mitigation and adaptation measures. But doing so requires addressing a critical financing gap. Credit: @FAO/Miguel Arreátegui
By René Orellana Halkyer
SANTIAGO, Nov 20 2025 (IPS)
Climate change is no longer a future threat; it is a reality that is reshaping agrifood systems and compromising global food security. Its impacts are evident in both the quantity and quality of food, affecting agricultural yields, water availability, pest emergence, disease spread, and fundamental processes such as pollination. Even changes in atmospheric CO₂ concentration are altering crop biomass and nutritional value.
In 2024, climate shocks were the main driver of food crises in 18 countries, affecting 72 million people experiencing high levels of food insecurity. Hurricane Mellisa, which struck Jamaica, Haiti, and Cuba, is a recent example of the severe effects these events have on agrifood systems.
Over the past five decades, climate change has reduced global cereal yields by 2%-5%; in Latin America alone, maize yields have declined by around 5%. Since 1961, climate change has reduced global agricultural productivity by 21%, which is equivalent to losing seven years of progress.
If we truly want agrifood systems that are more sustainable and resilient, climate financing must prioritize agriculture and the livelihoods of rural communities. Without sufficient resources, international commitments will remain words on paper rather than concrete results
These figures make one conclusion clear: it is urgent to rethink and transform agrifood systems by accelerating mitigation and adaptation measures. But doing so requires addressing a critical financing gap.
Despite the urgency, in 2023 only 4% of climate-related development financing was allocated to agriculture, livestock, fisheries, and forestry. This imbalance threatens the ability of the most vulnerable countries to adapt and transition toward sustainable production models.
If we truly want agrifood systems that are more sustainable and resilient, climate financing must prioritize agriculture and the livelihoods of rural communities. Without sufficient resources, international commitments will remain words on paper rather than concrete results.
In this context, COP30 is decisive. The promotion of agroforestry projects in the Amazon, which restore degraded lands and directly benefit local communities, is a fundamental element for the sustainability of ecosystems related to food and agriculture.
The presentation of the Tropical Forests Forever Fund (TFFF), led by Brazil with support from the World Bank, proposes an innovative model to finance global forest conservation, seeking to mobilize USD 25 billion from countries and USD 100 billion from private investors. This approach shows that sustainability can also be an economic opportunity when there are vision and commitment.
The early approval of the COP30 agenda demonstrates political will to advance on climate financing, energy transition, adaptation, and resilience. The challenge now is to turn commitments into concrete targets, with clear deadlines and real resources. History has shown that promises without action do not feed anyone.
At FAO, we are promoting strategies that combine mitigation and adaptation, such as integrated fire management, whose Call to Action was launched at this COP under the leadership of Brazil and with the support of 50 countries.
COP30 arrives at a crucial moment to place agriculture, food, and the role of Indigenous Peoples and rural communities at the center of global discussions.
The future of food, sustainability, and global stability depends on COP30 being more than a Summit: it must be the beginning of a new era of climate action centered on agrifood systems.
Excerpt:
René Orellana Halkyer, Assistant Director-General and FAO Regional Representative for Latin America and the CaribbeanFabio Nogueira, a leader of the Menino Jesus Quilombola Afro-descendant community, stands in front of a proposed landfill, which is 500m from their homes. Credit: Joyce Chimbi/IPS
By Joyce Chimbi
BELÉM, Brazil, Nov 20 2025 (IPS)
Just 30 minutes from where the UN climate negotiations are unfolding in the port city of Belém, Afro-descendant communities are engaged in a fierce struggle for the full recognition and legal titling of their ancestral territories—critical as their security and livelihoods are compromised by businesses wanting to set up contaminating landfill sites and drug cartels.
A boat ride along the expansive Amazon basin takes you inside the forest. It is the largest rainforest in the world, estimated to be 5.5 to 6.9 million square kilometers and spanning eight countries.
In the forest are the Quilombos or communities founded by descendants of Africans who escaped enslavement. They have defended their rights for generations. Across Latin America and the Caribbean, they may be known by different names, but they are all Afro-descendant communities with shared histories.
Well over 130 million people in Latin America identify as Afro-descendant, descendants of those forcibly brought to the Americas during the transatlantic slave trade. In Brazil, Ecuador, Colombia, and Suriname, these communities collectively hold recognized management rights to nearly 10 million hectares, or nearly 24 million acres, of land.
Açaí is harvested in an Afro-descendant community near Belém, Brazil, where COP30 is underway. Açaí is part of the daily diet and is historically known as a source of subsistence. Credit: Joyce Chimbi/IPS
But the Amazon is the backdrop for the struggle for the full recognition and legal titling of their ancestral territories, as guaranteed by the Brazilian Constitution of 1988.
IPS spoke to Fabio Nogueira, a leader among the Menino Jesus Quilombola community home to 28 families about their struggles and successes.
“Without titles, Quilombolas are exposed to invasion and displacement from big companies, ranchers, farmers and land grabbers.”
Alarmingly, criminal gangs target the Quilombola communities and their leaders for illegal activities.
Increased surveillance and drug seizures on direct routes from Latin America to Europe have turned the Amazon into a drug corridor. In Brazil, drug traffickers use ‘rios de cocaine,’ or cocaine rivers, jeopardizing the safety of the Quilombos along the Amazon rainforest.
Major rivers and remote areas in many Quilombola territories serve as key “cocaine corridors” for drug trafficking. The lack of state presence and land titling makes these communities soft targets.
Today, the Amazon rainforest is also the scene of a fierce struggle against landfills or sites for the disposal of waste material. He says landfills in the Amazon cause significant problems, including contaminating the soil and water with heavy metals and other toxins and releasing greenhouse gases like methane.
“We are currently 15 kilometers away from the lixão de Marituba landfill and it still pollutes our air and environment. Now they want to bring a landfill only 500 meters from our community. The landfill will be 200 hectares in size. We are saying no to landfills and have a case in court,” Nogueira said.
“The Menino Jesus quilombola community is in a legal dispute. We are resisting the proposed landfill project.”
Belém is a port city and gateway to Brazil’s lower Amazon region. A 30-minute boat ride through the expansive Amazon River takes you inside the forest. Credit: Joyce Chimbi/IPS
The project was planned without recognition of their existence or the impact it would have on them. The Public Defender’s Office of Pará has filed legal action and recommended the project’s suspension, citing that the land is public and part of the area traditionally occupied and claimed by the community for twenty years.
If the Brazilian State maintains the current pace of land regularization of quilombola territories, it will take 2,188 years to fully title the 1,802 processes currently open at the National Institute for Colonization and Agrarian Reform.
The slow pace of titling negatively affects forest preservation. Despite two studies indicating that the Quilombola play a crucial role in climate solutions, their ongoing struggle for basic recognition makes it difficult for them to secure their rights or access climate finance in formal spaces, such as COP30, according to Malungu, the coordinator of Associations of Remaining Quilombo Communities of Pará, which represents and advocates for the Quilombola communities in the state.
Two recent studies indicate that titling is a determining factor for the success of Quilombos in protecting the Amazon and titled territories maintain 91 percent of their forests, while non-titled territories preserve 76 percent.
“Alarmingly, self-declared territories that do not yet have certification (necessary for starting the titling process) had a rate of forest loss 400 percent higher than that of titled territories, highlighting the urgency of recognition to halt degradation.”
During COP30, a visit to the two Quilombos—Menino Jesus and Itaco-Miri—in the Amazon rainforest demonstrates the significance of communal land titling. It illustrates how this titling enhances the well-being of Afro-descendant peoples across the Amazon and how secure land tenure contributes to climate goals through carbon absorption, forest protection, and biodiversity preservation through traditional agriculture.
Throughout six generations, Quilombola communities stand out as caretakers and conservers of the Amazon rainforest’s biodiversity, using sustainable practices passed down through generations.
Menino Jesus and Itacoã-Miri territories and other Afro-descendant community lands ‘have high biodiversity and irrecoverable carbon and were associated with a 29 to 55 percent reduction in forest loss compared to control sites.’
Still, communities deliver better results with tenure security. Key data from Instituto Social Ambiental’s Study on Quilombo Territories in the Brazilian Amazon shows that while Quilombos face significant land tenure challenges, approximately 47 percent of mapped Quilombos lack even basic delimitation or fixing of boundaries, and over 49 percent of communities have not even passed the first step.
Along the Amazon basin, communities often live in houses facing the river. The forest is their backyard. Credit: Joyce Chimbi/IPS
Meanwhile, they remain outstanding in their conservation performance. They have preserved nearly 92 percent of mapped Quilombo territories, including forests and native vegetation. From 1985 to 2022, these territories lost only 4.7 percent of original forest cover, compared to 17 percent loss in private areas.
But political recognition has moved much more slowly than scientific recognition. Shortly before COP30, President Luiz Inácio Lula da Silva visited the Afro-descendant communities of Menino Jesus and Itacoã-Miri near Belém, Pará, as part of an agenda of preparatory meetings for the COP30 climate conference.
It has taken 30 COPs for a historic breakthrough, as COP30 has included the term ‘people of African descent’ in draft negotiating texts of the UN climate convention for the first time. This inclusion is a significant step toward formally recognizing this population in global climate policy.
The term ‘people of African descent’ has been incorporated into draft documents, including those related to the Just Transition and the Gender Action Plan. This had never happened in the history of the UN climate convention system, which has often been more technical and less focused on human rights and racial justice.
The Belém Declaration on Fighting Environmental Racism is a political commitment that was joined by 19 countries at the leaders’ summit before COP30 began. The text acknowledges the disproportionate exposure of people of African descent, Indigenous Peoples, and local communities to environmental harms and climate risks.
This declaration is an international agreement that seeks to foster a global dialogue on the intersection of racial equality, climate change, and environmental justice. The declaration recognizes the global ecological and racial justice crises as intertwined and proposes cooperative actions to overcome historical inequalities affecting access to environmental resources.
Its goals include reinforcing human rights and social justice in environmental policy, broadening the scope of equality in sustainable development, and building a more equitable future for all.
Coelho Teles from the Quilombo community told IPS that he is not aware of this recognition because they have “been sidelined. We do not know how to get involved and participate in COP30.”
Brazil identified forests and oceans as twin priorities and launched the Brazil-led Tropical Forests Forever Facility at COP30, seeking to compensate countries for preserving tropical forests, with 20 percent of funds reserved for Indigenous Peoples.
Science has shown communities keep forests standing. For the Tropical Forests Forever Facility to achieve desired results, those in Quilombo territories say their recognition and participation will need to be significantly more substantial.
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A Community Health Worker in a door-to-door campaign to vaccinate people in communities in Nanyamba village, Mtwara Region, in southeastern Tanzania. Credit: Kizito Makoye/IPS
By Desta Lakew and Richard Muyungi
BELÉM, Brazil, Nov 20 2025 (IPS)
Around the world, the climate crisis is fast becoming the biggest public-health threat of the century. Extreme heat now kills more Europeans than any other natural disaster. Floods in Asia displace millions and contaminate water supplies. Mosquito-borne diseases once confined to the tropics are appearing in southern Europe and the United States.
Nowhere, however, are these impacts more visible—or the responses more instructive—than in Africa, which stands at a pivotal moment in the global climate discourse. Home to 17 percent of the world’s people yet responsible for less than four percent of global emissions, the continent is on the frontline of a crisis it did little to cause.
From the Horn of Africa to the Sahel, droughts, floods, and heatwaves are fueling outbreaks of malaria, cholera, and dengue, while undermining already fragile health systems. The climate crisis is no longer a distant environmental threat; it is a daily public health emergency.
Desta Lakew, Amref Health Africa Group Director for Partnerships & External Affairs
While the Paris Agreement implicitly recognized the importance of health in climate action, it was COP28 in Dubai that marked a watershed moment. For the first time, the world finally began to acknowledge what communities across Africa have long known: climate policy is health policy.
The UAE Declaration on Climate and Health, endorsed by more than 120 countries, acknowledged that every degree of warming worsens public health outcomes and that protecting health systems is essential to climate resilience. Africa’s negotiators were central to that breakthrough—pushing health from the margins to the main stage of climate diplomacy.
Their advocacy has paved the way for the next critical milestone: the Belém Health Action Plan, being launched at COP30 in Brazil. The plan’s pillars—disease surveillance, early-warning systems, climate-smart health infrastructure, and health equity—mirror the priorities laid out in the Common African Position on Climate and Health adopted in Lilongwe and reaffirmed in the Africa Group of Negotiators’ (AGN) Declaration, which came out of the Africa Climate Summit in Addis Ababa.
The AGN was decisive in appointing a climate and health lead coordinator to ensure that health is a key thematic stream within the group, and it is now a key component of their work. The message from Africa is clear: protecting people’s health is the clearest measure of whether climate action succeeds.
Yet the global financing system has not caught up. Less than one percent of adaptation finance targets health, even as climate-sensitive diseases multiply. Despite new pledges at COP28—$300 million from the Global Fund and $100 million from the Rockefeller Foundation—the gap is measured in the hundreds of billions. Africa alone will need roughly $300 billion annually by 2030 to build resilient systems and respond to climate-related loss and damage.
Dr. Richard Muyungi, African Group of Negotiators on Climate Change (AGN) Chair
Philanthropy is waking up—the recently formed Climate and Health Funders Coalition brings together 35 institutional and individual funders and they have just committed an initial $300 million at COP30, but structural challenges remain.
Most existing climate funds remain locked behind complex applications or arrive as loans that deepen debt in economies already under strain. That approach is not solidarity—it is self-defeat. Pandemics, heat-related mortality, and vector-borne diseases do not respect borders. A health emergency anywhere can quickly become a threat everywhere.
COP30 offers the chance to change course. The Belém Health Action Plan must not become another well-intentioned declaration—it needs financing hardwired to outcomes that save lives: clinics able to function through heatwaves and floods, vaccine cold chains powered by clean energy, and community health workers trained to respond to shifting disease patterns.
To make that happen, global donors, multilateral banks, and high-emitting nations should agree on three urgent steps. First, earmark a defined share of climate finance for health adaptation—not as an afterthought but as a performance metric in every climate-finance report; second, shift from loans to grants for health-related climate resilience to prevent compounding debt crises; third, invest in African-led solutions that the rest of the world can adopt or learn from—from Kenya’s heat-health action plans in Nairobi to Tanzania’s clean cooking agenda.
Africa’s experiences offer valuable lessons for the world. The ingenuity that kept health services running through droughts and pandemics is precisely what other countries will need as wildfires, vector migration, and heat emergencies escalate globally. The world should be studying and scaling these innovations—not waiting for crises to reach their own doorsteps.
Ultimately, if the climate crisis has taught us anything, it is that health security is climate security. What happens in Nairobi or Niamey reverberates in New York and New Delhi. COP30 must deliver ambitious and just outcomes that strengthen adaptation and protect the most vulnerable. We will consider COP30 a failure if it does not deliver an ambitious adaptation decision that resonates with Africa’s climate change impacts and realities.
Leaving Belém with promises alone would be a failure of vision and of justice. Leaving with funded commitments would signal a turning point: proof that the world finally understands that safeguarding health is not a regional concern—it is the foundation of collective resilience and of our shared future.
Desta Lakew is Amref Health Africa Group Director for Partnerships & External Affairs; Dr. Richard Muyungi is African Group of Negotiators on Climate Change (AGN) Chair
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Excerpt:
Delegates met at the Global Climate-Smart Agriculture Conference in Brasília before the COP30 climate talks. Credit: 2025Clim-Eat/Flickr
By Ana Maria Loboguerrero and Dhanush Dinesh
BELÉM, Brazil, Nov 20 2025 (IPS)
The language of agricultural sustainability changes like the seasons—from “climate-smart” to “regenerative,” “agroecological,” and “nature-positive.” Each term reflects good intentions, but the growing list risks duplication, confusion and delays.
The recent CSA Conference in Brasília gathered leaders from policy, science and finance ahead of COP30 to focus not on buzzwords but on the shared foundations of sustainable food systems, which is all the more important in the Grave New World. For all the various theories of change, many share the same principles of soil health, crop innovation, inclusive finance and resilient livestock production.
In the midst of the COP30 climate talks, consensus will depend on recognizing that climate action and protecting livelihoods must advance together. Leaders must challenge themselves to measure success not only in emissions reduced, but also in the quality of life sustained by a thriving and resilient rural economy. With Brazil’s COP presidency determined to accelerate agreements into action, the challenge now is to accept and advance context-specific approaches in pursuit of a shared goal.
At present, fragmentation continues to divide institutions, donors, NGOs and producers, with competing ideologies slowing progress toward sustainability at the speed and scale required. For example, while a vast number of organizations are currently backing the concept of regenerative agriculture, others tread the paths of sustainable intensification or climate-smart agriculture. But some of the practices, such as agroforestry, could fall under each of these concepts.
And the Koronivia Joint Work on Agriculture (KJWA), established prior to COP26, has been succeeded by Sharm el-Sheikh Joint Work on the Implementation of Climate Action on Agriculture and Food Security and yet farmers are still waiting for clear national strategies to emerge from years of workshops and working papers. While the principles underpinning these joint work programs are sound, they have not generated action at the speed needed.
On the other hand, the six CSA Conference themes—from soil health and crop innovation to finance and policy—offer a fundamental framework around which there is already much agreement and can deliver results under whichever buzzword it is categorized. The themes also reflect the priorities of Brazil’s Action Agenda and ABC+ Plan, highlighting practical areas of consensus.
Brazil’s experience offers tangible examples of how shared priorities can move from discussion to delivery. The ABC+ Plan (2020–2030) forms the backbone of the country’s low-carbon agriculture strategy, integrating sustainable practices like no-till farming, pasture recovery and biological nitrogen fixation into a coherent national framework. It represents a direct contribution to the COP30’s Action Agenda’s agricultural pillar, transforming abstract goals on soil health and productivity into measurable outcomes.
Building on this, Brazil’s RENOVAGRO is the financing arm that enables the implementation of the ABC+ Plan, demonstrating how public policy can activate private investment to move all Action Agenda ambitions forward together. By tying credit eligibility to verified adoption of low-carbon practices, the program allows farmers to commit to transitions that would otherwise be out of reach. This realizes the ABC+ Plan’s policy objectives and shows that progress depends not necessarily on new ideas, but on acting decisively on the systems that already work.
At COP30, the challenge is not to settle on the right language but to sustain the right actions—whatever this might look like according to local circumstances and resources. Progress depends on scaling what we already agree on: sound policies, accessible finance that doesn’t exclude vulnerable populations and resilient food systems that keep production within environmental limits. The next phase must prioritize implementation over invention.
Leaders have an opportunity to move from promises to performance. The task ahead is to scale what already works—not to define new concepts, but to deliver proven solutions faster.
Brazil’s example shows that integration works better than focusing on the continued search for a universal solution. There is no single path forward, only a combination of context-specific approaches bound by diplomatic agreement and sustainable financing.
By focusing on fundamentals, we can avoid the paralysis of competing definitions and begin to act collectively by applying the policies and practices we know work in ways that fit local realities.
Ana Maria Loboguerrero, Director, Adaptive and Equitable Food Systems at Gates Foundation
Dhanush Dinesh, Chief Climate Catalyst at Clim-Eat
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Excerpt:
Rising debt, geopolitical instability and declining aid flows are intensifying external pressure on African economies. In a briefing to the Africa Group of ambassadors at the United Nations headquarters last July, Claver Gatete, Executive Secretary of the Economic Commission for Africa (ECA), highlighted the economic pressures facing African countries and outlined ECA’s response, from budget stabilization and strengthened data systems to advancing regional priorities. Held at the Permanent Mission of the African Union to the UN, the session came amid growing uncertainty for African economies, with many facing debt distress, inflation and trade disruptions driven by global policy shifts.
By Danny Bradlow
PRETORIA, South Africa, Nov 20 2025 (IPS)
The end of South Africa’s G20 presidency does not mean the end of its ability or responsibility to promote the issues it prioritised during 2025. It can still advocate for action on some of these issues through its further participation in the G20 and in other international and regional forums.
In this article, I argue that going forward South Africa should prioritise the financial challenges confronting Africa that it championed in 2025.
South Africa established four overarching priorities for its G20 presidency. Two of them dealt with finance. One sought to “ensure debt sustainability for low-income countries”. The other was to mobilise finance for a just energy transition.
The importance of debt, development finance and climate to Africa’s future is clear. Over half of African countries are either in debt distress or at risk of being in distress. More than half of Africa’s population live in countries that are spending more on servicing their debt than on health and/or education.
In addition, 17 African countries experienced net debt outflows in 2023. This means that they were using more foreign exchange to pay their external creditors than they received in new debts that could be used to finance their development. The continent is also experiencing extreme weather events that are adversely affecting food security and human wellbeing.
In short, African countries are caught in a vicious cycle. The impacts of climate and their struggle to meet their debt obligations are interacting in ways that undermine their ability to meet their sustainable development goals.
South Africa’s priorities
South Africa’s priorities for its G20 presidency were ambitious. Success required meaningful action at three levels:
Awareness. South Africa would need to bring the international community to a better understanding of the nature of the debt and development finance challenges confronting African countries and of the consequences of failing to address them.
Process. South Africa would need to convince the G20 to correct the shortcomings in the Common Framework it had devised to deal with low-income countries seeking debt relief.
The examples of Zambia and Ghana showed that the Common Framework was cumbersome, slow and unduly favourable to creditors. For example, the framework requires the debtor to engage separately with each group of its creditors in a sequential process. This means that it should not negotiate with its commercial creditors until it has successfully negotiated with its official creditors.
Commercial creditors can’t give debt relief until the official creditors are satisfied with their deal and are confident that the commercial creditors will not receive more favourable treatment from the debtor than they have received.
Another complication is the IMF’s multiple roles in debt restructurings as an advisor to and a creditor of the debtor countries. In addition, it does the debt sustainability analysis that determines the amount of debt relief that all other creditors are expected to provide to the debtor country in order for it to regain debt sustainability.
The more optimistic its assessment, the smaller the contributions the various creditors, including the IMF, are expected to provide. These contributions can either be in the form of new funding or new debt terms.
Substance. The current debt restructuring process treats debt as a technical financial and legal problem rather than as the complex multifaceted problem that is experienced by debtor countries. The former perspective limits the scope of debtor-creditor negotiations to the terms of the financial contracts.
The negotiations focus on the adjustments that must be made to these terms because the debtor cannot comply with its originally accepted obligations. They treat as largely outside the scope of the discussions the adverse impact the debt situation has on the sovereign debtor’s other legal obligations and on the social, political, environmental and cultural situation in the debtor country.
This approach in effect leaves the debtor to deal with these other issues on its own. This artificial distinction between the debtors’ other legal obligations and those it owes to its creditors makes it very difficult for the debtor to escape the vicious debt, development and climate cycle in which it is trapped. It forces it to choose between its commitments to its creditors and its development obligations.
Over the course of 2025, South Africa has been very effective in raising awareness of the African debt crisis and its dire impact on African countries. South Africa persuaded the G20 finance ministers and central bank governors to issue a declaration on debt sustainability at the end of their October meeting.
The declaration is the G20’s eloquent acknowledgement of the problem and of the need for more discussion of how these debt issues are managed by both debtors and creditors. Unfortunately, it does not contain any firm G20 commitments on what it will do to remedy the situation.
There has not been substantial progress at the process and substance levels. This is unlikely to change in the remaining weeks of South Africa’s G20 presidency.
But there are three actions that South Africa can take beyond the end of its term to ensure that the African debt crisis continues receiving attention.
Three actions
First, it should ask a group like the African Expert Panel that it established to advise the president to prepare a technical report that identifies and analyses all the barriers to Africa accessing affordable, sustainable and predictable flows of external development finance.
This report should be submitted to the South African president in the first half of 2026. Next year, South Africa will still be a member of the G20 Troika, which consists of the current, immediate past and the incoming G20 presidents.
Consequently, next year, it will still be able to table the report at the G20. South Africa can also use the report to promote action in other appropriate regional and global forums.
Second, South Africa and the African Union should create an African Borrower’s Club that is independent of the G20. This club should be a forum in which African sovereign debtors can share information and lessons learned about negotiating sovereign debt transactions and about responsible debt management. When appropriate, the club can work with regional African financial institutions.
The club, working with regional organisations like the African Legal Support Facility, can also sponsor workshops in which interested African sovereign debtors can share information and more critically assess their financing options. They can also work to improve their bargaining capacity in sovereign debt transactions.
The African Borrower’s Club should also be mandated to establish an African Sovereign Debt Roundtable that is modelled on the Global Sovereign Debt Roundtable. This entity should be an informal forum, based on the Chatham House Rule in which the various categories of stakeholders in African debt can meet to discuss the design of a sovereign debt restructuring process that is effective, efficient and fair and that adopts an holistic approach to a sovereign debt crisis.
Third, South Africa should capitalise on the fact that the impacts of climate, inequality, unemployment and poverty on Africa’s development prospects are now acknowledged to be macro-critical, and so within the IMF’s macro-economic and financial mandate. South Africa should call for a review of the IMF’s operating principles and practices and its governance arrangements.
This call should note that the multilateral development banks have been the object of G20 review for a number of years and that this has resulted in important enhancements in their capital frameworks and operating practices.
On the other hand, the IMF has not been subject to a similar review despite the fact that its operations have had to undergo possibility even more extensive revisions.
Daniel D. Bradlow is Professor/Senior Research Fellow, Centre for the Advancement of Scholarship at the University of Pretoria.
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