Gabon has long flaunted its green credentials, enjoying a reputation as a leader in global efforts to combat climate change and environmental destruction. In June 2021, that image got another boost when Gabon became the first country in Africa to receive a payout for having reduced its carbon emissions. In disbursing the first payment of $17 million, the Central African Forest Initiative, on behalf of the Norwegian government, committed to providing Gabon’s government with $150 million in conservation financing over 10 years for lowering emissions from forest loss in 2016 and 2017, compared to baseline data from 2006 to 2015. [...]
Last week, 13 African heads of state and government attended the African Union’s Mid-Year Coordination Meeting, the principal forum for the AU and Africa’s Regional Economic Communities, or RECs, to align their priorities and coordinate implementation of the continental integration agenda. This year’s meeting, the fourth since the format was launched in 2017 to replace a mid-year leaders’ summit, was focused on issues like the status of regional integration in Africa; the division of labor between the AU, its member states and RECs; a tripartite free trade agreement between the East African Community, The Common Market for Eastern and Southern [...]
Over the past few years, the Southeast Asian state of Laos has positioned itself at the center of growing trade, economic and infrastructure integration in the Mekong subregion. Its ambitious plan envisioned its dams providing electricity for Laos’ more populous neighbors and its expanding web of roads and rails—whose development is funded extensively through debt, much of it to China—connecting the region’s rising economies. But that was before Laos’ economy crashed. Today, inflation is skyrocketing. Staple goods like cooking oil are becoming scarce. And the local currency is collapsing against the dollar. The country, whose credit rating was downgraded by Moody’s in [...]
