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The current perception that Nigeria is a high-risk debt nation that could default on its debt repayment has been debunked by participants at this year’s Capital Market Solicitors’ Association (CMSA) yearly business summit.
BRICS has promised to help engineer a multipolar world order which would serve as a counter weight to the current Washington Consensus that has hardly worked in any developing country. It is unfortunate that an uncritical consensus seems to have been built around the very fallacious notion that subsidies are bad and distorts everything in the economy.
Despite development assistance (often at extremely subsidized interest rates and generous repayment schedules), sub-Saharan Africa has performed dismally on various economic indicators.Developing countries must make their own internal reforms byimplementing policies that promote economic freedom, which, inturn, are known to be associated with higher levels of economicgrowth.
In its current form, globalization has exacerbated inequalities. Globalization 2.0 must address the political ramifications and power imbalance of these cleavages, particularly in trade, data and technology, finance, tax, and climate change policies.
Ghanaian postcolonial intellectuals viewed terms such as development, neo-colonialism, self-reliance, and indigeneity as central to discussions of global inequalities.