Jimoh Ibrahim’s contribution in world bank/ IMF conference, the only solution to macroeconomic imbalances in Africa
The Senator Representing Nigeria in ongoing world bank/IMF conference in Morocco, Senator Jimoh Ibrahim CFR has proposed equity swapping of Africa’s debt with climate change pains caused by UK, USA , China and other developed countries in the global conference.
The research in Atmospheric Physics established that, Africa is the most vulnerable continent to climate change impact under all climate scenarios above 1.5 degrees Celsius.
Despite having contributed the least to global warming and having the lowest emissions, Africa faces exponential collateral damage, posing systemic risks to its economies, infrastructural investments, water, food systems, public health, agriculture, and livelihoods, thereby threatening to undo its modest developmental gains and slipping it into higher levels of extreme poverty caused by the developed countries.
The factors that contribute to Africa’s vulnerability among others include its debt burden which has been a great hindrance to its growth and development, and has deepened poverty level with consequential low living standards.
As at today, one thousand naira is less than one dollar in Nigeria. This is our present reality and it is such a great burden of debt.
Is this how Africans will continue to live vulnerably?
“Every problem has solution, you just have to be creative enough to find solution “, according to Travis Kalanick
Without doubt, there will a great relieve in most Africa countries if the debt burden facing them which has been a great hindrance to their growth and development, and has deepened their poverty level with the consequential low living standards can be swapped as proposed by Senator Jimoh Ibrahim CFR.
For the records, Sen. Ibrahim is the first man on Earth to be awarded Doctor of Business in University of Cambridge since its establishment in 1709 and he is the senator representing the good people of Ondo South at the National Assembly.
Senator Jimoh Ibrahim CFR has since been extending his impactful representation to his people and his sincere effort and intelligent direction in 10th Senate is now open to global parliamentary front.
