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Time for a Next Generation Africa

Author

Listed:
  • Fabio Masini

    (Theories and History of International Political Economy, Department of Political Science, University of Roma Tre
    Managing Editor History of Economic Thought and Policy; Euractiv Italia)

Abstract

The recent allocation by the IMF of $650bn in Special Drawing Rights (SDRs) triggered a widespread debate on their use for alternative purposes to their usual role as instrument to fix balance of payments disequilibria. This paper re-examines the main proposals put forward in the last few months, and suggests that a different direction should be taken, at least in Europe. Given the strategic relevance of Africa to the future of Europe we suggest the EU Member States should consider pooling part of the SDRs recently received to launch Next Generation Africa. This major investment plan, of both grants and loans, would aim to: trigger endogenous growth in Africa; strengthen African regional integration; and help European recovery. A few, not necessarily mutually exclusive, institutional settings and scenarios are considered.

Suggested Citation

  • Fabio Masini, 2022. "Time for a Next Generation Africa," Research Papers 571, Fondazione Centro Studi sul Federalismo.
    • Handle: RePEc:azz:rpaper:571
    as

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    File URL: https://www.csfederalismo.it/images/Research_paper/CSF-RP_Next-Generation-Africa_F.Masini_Nov2021.pdf
    File Function: Final version, 2022
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    More about this item

    Keywords

    Africa; European Union; Next Generation; Special Drawing Rights;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • F68 - International Economics - - Economic Impacts of Globalization - - - Policy

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