Page 63 - Msingi Afrika Magazine Issue 11
P. 63
ECONOMY
DISCOURSE ON THE DEBT,
33 YEARS ON.
By PD Lawton,
Originally published on 15 November 2020 at www.africanagenda.net
oday, Africa stands at called the Green Finance Pack- Without reliable, cheap energy,
the cross-roads. This age. [1] it is impossible to power de-
is the last opportunity Kenya, sadly, has become the velopment and industrialize an
Tfor the continent`s first to accept the UN Green economy. Renewables cannot
leadership to decide the fate of Finance Package which was run a steel mill. Hydropower
1.3 billion people. received by Kenya`s Central has its physical limits in terms of
Bank this week. It has chosen transmission distance and it is
This is the most crucial moment to appease the Paris Club and not a possibility without consid-
in Africa`s history. The choice protect its credit rating. erable water volume.
on one hand, is to continue fol-
lowing IMF diktat and agree to By accepting the Green Bribe, Does Kenya want to continue
a future of economic policy that Kenya is committing to a ze- relying on tourism and agricul-
benefits the banks of Wall Street ro-growth policy. The Green ture, a green economy? How
and the City of London. For that New Deal will not fund fos- will that eliminate poverty?
choice there is a bribe which is sil-fuel or nuclear energy.
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