Matthias Rompel’s Post

Insightful policy brief by Development Reimagined highlighting considerations on the opportunity to strengthen Africa's voice in the multilateral system following the African Union's inclusion as a full, permanent member of the Group of 20, to form the G21. They highlight 6 priorities to support the AU's engagement: 1.    Reimagining the IMF Quota System to Provide Fair Representation for The African Continent. 2.    Facilitate SDR Reallocation to the African Development Bank  3.    Support a Reformed Debt Sustainability Analysis – including revisions to the restrictive 60% debt-to-GDP thresholds. 4.    Revise the G21 Common Framework based on African Positions.    5.    Alignment with the AUs Agenda 2063 and Infrastructure Development. 6.    Support capital increase at MDBs, as outlined by the Capital Adequacy Framework report. Will be fascinating to see what Africa's inclusion and representation looks like for the priorities and decisions of the G20 going forward, and how African countries can agree work together towards a harmonised position on priority issues for the continent. https://lnkd.in/emgNqe9G Full brief here: https://lnkd.in/e-UTbMur

Collaborative United Nations efforts are crucial as we accompany the #G20 Presidency 🇿🇦 and its members as they focus on reforming the international financial architecture, ensuring access to capital markets, advancing debt relief, and boosting sustainable finance for the #SDGs. With UNDP’s Assistant Secretary-General Marcos Neto.

South Africa’s upcoming presidency of the G20 should continue the important progress achieved by Brazil in advancing solutions that work for the Global South. Leveraging the recent addition of the African Union as a member of the G20, South Africa’s presidency of the G20 must advance sovereign debt solutions that go beyond the Common Framework and take these important conversations to democratic platforms such as the UN. This is an important step towards the realisation of Africa as a rule maker and not a rule taker! (@Tatenda Mzezwa) African Forum and Network on Debt and Development (AFRODAD) #africarulemaker

We need to deepen cooperation to deliver more, deliver better: this is the outcome of discussions had by the Heads of ten Multilateral Development Banks (MDBs) in Washington D.C. to mark the conclusion of The World Bank - International Monetary Fund Spring Meetings. The MDB leaders agreed on joint steps to work more effectively together across five areas: ✅ scaling up MDB financing capacity; ✅ boosting joint action on climate change; ✅ strengthening country-level collaboration and co-financing; ✅ catalising private sector mobilisation; ✅ enhancing development effectiveness and impact. This strong cooperation message closes an intense few days for the EIB Group delegation at the Spring Meetings. Here are some highlights from the past days: 🔵 we signed the first EIB Group project in Bhutan under EU's Global Gateway; 🔵 with our Ukrainian partners, we agreed to speed up projects on the ground; 🔵 we discussed how to strengthen important partnerships, such as the Human Development Accelerator with the European Commission and the Bill & Melinda Gates Foundation. And much more. Make sure to keep following us across social media platforms as the EIB Group delegation moves on to New York for the United Nations Financing for Development Forum. Learn more about our presence at the 2024 IMF/ WBG Spring Meetings ➡️ https://lnkd.in/e_SwCJAh #SpringMeetings #IMFMeetings #WBGMeetings #MDBs #Multilateralism

The Minister of International Cooperation, Rania Al-Mashat, has called on the international community to expand debt swap programs for climate action to reduce financial burdens and enhance the trend toward achieving sustainable development goals This came in her participation in a high-level event organized by the International Monetary Fund (IMF) and the Economic and Social Commission for Western Asia (ESCWA), on “Debt Swap for Climate Action,” to discuss the debt swap mechanism based on climate-related programs and the implementation of Sustainable Development Goals (SDGs), as a tool to enhance countries' fiscal space to expand investments In her speech during the session, the Minister stressed the importance of the initiative launched by ESCWA on debt swaps for climate action, which provides an opportunity for debtor and creditor countries to join in solidarity to accelerate the pace of implementation of the SDGs, achieve recovery and enhance development cooperation in a way that enables countries to achieve development and implement the Paris Climate Agreement Read more on our website!

In Berlin, Germany during the Berlin Global Solutions Summit, and the Session on Africa Reforms and Priorities for Climate Finance, the Commissioner of African Union - Economic Development, Tourism, Trade, Industry, Minerals (ETTIM) advocated for a fair pricing of African Carbon Sinks, and proposed alternative innovative solution to bridge climate financing gaps in Africa. These solutions highlights the need to enhance the capacity of African officials in carbon pricing and accounting, and develop a compulsory African carbon market. Other options he proposed includes ♻ Making progress in the rechanneling of Special Drawing Rights;  💰 Recapitalisation of African Multilateral Development Banks to enable them provide long-term financing to countries that need them the most. 🌍 Africa needs to rely on her own efforts by increasing domestic resources mobilization, with a focus on curbing illicit financial flows out of Africa and increasing tax collection.

The world’s poorest countries, especially those in Africa, are struggling to pay for investment to stave off a climate crisis they did not create. More public debt is not the answer: climate investment needs exceed the lending capacity of multilateral finance institutions, and many African countries are already in a funding squeeze. What’s needed are novel solutions—stepped-up private sector investment for climate action in poor countries. And these efforts cannot be simply country-based—they must be global. Read more in Michael Olabisi’s article in F&D magazine. https://lnkd.in/d2zrsdBN

On the 4th of June 2024 I had an interview with West African Broadcasting Channel, (check the interview on YouTube) reflecting about the South Africa's G20 Presidency and what it means for South Africa and Africa. My opening remarks was that, its a significant opportunity for South Africa and Africa to reposition itself and pursue a strategic reform agenda that will accrue tangible benefits for the country and Africa broadly. The international financial architecture (IFA) is a framework of institutions, policies, rules and practices that the global financial system. Its aim is to promote international cooperation with a view to ensuring global monetary and financial stability, enabling international trade and investment, supporting the mobilization of the stable and long-term financing required for economic development, combatting the climate crisis, and achieving the Sustainable Development Goals. However the recurring financial and debt crises, in African and developing countries as well as the shortfall in required development and climate finance, reiterate that the existing framework of IFA is ill-equipped for today’s world. Many of its shortcomings are of a systemic nature. The structure of IFA and its institutions are not designed to deliver the kind of financial support that developing countries need to realize their growth and development ambitions. South Africa must push for the followings reforms: 1. Support for free trade agreement in Africa, 2. Debt relief measures, 3. Establishment of a stable G20 secretariat to monitor progress of commitment by G20 since its establishment 4. Restructuring of credit ratings agencies and address their risk averse approach to African and Developing countries 5. Set up a fund that will support climate change crisis, decarbonization and industrial development. Lets engage!

As the G20 presidency transitions from Brazil to South Africa, continuity in addressing key objectives becomes crucial. Focus areas include cross-border payment systems, sustainable financing initiatives, and more. It's vital to monitor South Africa's presidency and its potential benefits for Africa. #G20 #InternationalMonetaryFund

As a successful Global Servant Leader, talented High-Tech expert, and a former Professor of Psychology, I just read the positive and inspiring message from the IMF Managing Director Kristalina Georgiva, posted on Linkedin: “Embracing the wisdom of Shirley Chisholm, the first black woman in the US Congress: if they don't give you a seat at the table, bring a folding chair.” – “Proud to stand alongside these exceptional women from the World Bank and the International Monetary Fund to celebrate International Women’s Day. They not only brought the chair but redesigned the entire table!”   What is Boldness in Effective Global and Digital Leadership? Together we can unlock human potential and bridge the digital skills gaps. IMF Managing Director wrote: “Digital equity is not just morally right but also economically sound. Women's lack of access to digital tools and education not only limits their individual opportunities, but also hinders the growth and innovation of the digital economy. Let's prioritize digital inclusion and empower women to unleash their full potential.” I take pride in celebrating International Women’s Day. I am thankful to my MOM as a successful entrepreneur, business strategist and visionary leader. She is my leadership role model. I am grateful for her character, resilience, and kindness. She is a believer in Bold Action to drive Bold Solutions.   1) What is the list of the TOP 50 Global High Risks and Challenges in 2024? 2) What is the list of the TOP 30 most in-demand skills and leadership core competencies necessary for the critical positions of C-suite executives? 3) How does digital equity impact economic growth? 4) What is Boldness in Effective Digital, Transformational and Servant Leadership in the digital age of unprecedented change and in the disruptive era of cutting-edge science and emerging technologies, such as Artificial Intelligence (AI), Blockchain, Machine Learning, Cloud and Quantum Computing? 5) What is Benchmarking? About Brainstorming?