Boosting Inclusive Development: A Vision from a Nobel Laureate | Africa Perspectives

The IMF’s African Department is pleased to host Michael Kremer, Professor of Economics at the University of Chicago, where he directs the Development Innovation Lab. He is the joint winner of the 2019 Nobel Prize in Economics for the “experimental approach to alleviating global poverty.” 
While African countries are grappling with the fallout of exogenous shocks like Russia’s war in Ukraine and climate change, the continent’s leaders are also trying to tackle persistent structural issues. Healthcare services are under strain, as is education, with low enrollment and high dropout rates for children who in the next 5-10 years will provide about half of the world’s increase in working-age population.
Agriculture, a vital sector for food security and economic growth in the region, is constrained by low productivity, the impact of climate change, and limited access to modern technologies. Furthermore, economic growth remains stifled by insufficient investment and infrastructure, weak institutions, high unemployment, and income inequality.
Join us for a conversation between Professor Kremer and the IMF’s African Department Director, Abebe Aemro Selassie, to learn more about the key measures policymakers can take to address regional challenges as well as global ones like climate change and pandemics.
Send questions in advance or during the event: [e-mail]
www.imf.org/africaperspectives

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I’m curious about the discussion on vaccines and patents for medications. The UN/WHO wants control of patents and control of when countries get vaccines. (All at the same time). Although that sounds reasonable… who pays for the years of development of and billions of dollars to develop those vaccines? I worked at Georgetown University many years ago on a research team….there were many. Taxpayers pay for that investment, as well as the private sector. Why would a country that has invested billions of dollars in a drug… not only hand over the patent, but be responsible for 8B doses for the entire world before THEY can use it? Every sovereign nation decides how to spend their GNP…and they have to PAY for the vaccine… and not at some ridiculous price , but whatever the U.S. people have to pay. Everyone else is getting the billion dollar research investment FREE. They just pick up a phone and order it. I love your open and honest discussions, however, the guests, who are often economists, always act as if America should pay for everything. That is unrealistic, and not how a capitalist system stays alive. WHO pAYS and WHY…. is an important question. In fact it’s money on the table, before you should go any further!

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