The Committee of the Governors of Central Banks of ECOWAS Member States led by its chairman, Mr. Godwin Emiefele of the Central Bank of Nigeria (CBN), have called for greater synergy between the West African Monetary Agency (WAMA) and ECOWAS in the bid to attain a single currency in the region.
This was the key message from a working visit of the Governors of Central Banks of ECOWAS Member States to the President of the ECOWAS Commission Mr. Marcel de Souza on 1st November 2017, in Abuja, Nigeria.
During the visit, the President of the Commission emphasized the need for a single currency which will increase inter-state trade and foster economic integration in the region.
However, he stated that in regards to the convergence, none of the Member States have met the convergence criteria as stipulated by the 2012-2016 marco-economic programme.
Mr. Emiefele in his remarks stated that some factors such as lack of adequate funding, low capacity of Member States to meet the requirements of certain areas of harmonization and the coexistence of two exchange rate regimes in the region are responsible for Member States not being able meet the criteria.
Hence, the Committee of Governors called on ECOWAS to collaborate closely with WAMA and also consider avenues for financing some of their activities under the roadmap from the community levy.
‘There is also a need to establish a formal reporting framework between the committee of Governors and the Council of Ministers to facilitate channeling of relevant policy decisions and information on the Monetary Cooperation Programme to the Authority of ECOWAS Heads of State and Government’, said Mr. Emiefele.
The Director-General of WAMA, Mr. Momodou Bamba Saho, also reiterated the call for improvement of the synergy between ECOWAS and WAMA as well as other regional organizations by letting each focus on the areas that they could have a positive impact on.
The Meeting of Central Bank Governors of ECOWAS Member States and the ECOWAS President, was the first of its nature. It was precipitated by the need to assess the progress of the monetary convergence and its attainment by 2020.
Also in attendance of the meeting was the Director-General of West African Institute for Financial and Economic Management (WAIFEM), the West African Monetary Institute (WAMI), the ECOWAS Vice-President, Commissioners for Marco-economy policy and Economic Research, Industry and Private Sector and General Administration.
Lighthouse Partnerships Gain Momentum on Social Justice
Crises in climate, health and inequality are compelling organizations to align business strategies with equity and social justice values.
In a new whitepaper, Lighthouse Action on Social Justice Through Stakeholder Inclusion, the World Economic Forum, in collaboration with Business for Social Responsibility (BSR) and Laudes Foundation, shines a light on emerging corporate momentum supporting stakeholder inclusion and social justice.
Through the case studies of nine “lighthouse examples,” the report chronicles how the following companies and coalitions are establishing stakeholder inclusion models and best business practices in three key areas:
Making investments targeting impacted communities in value chains and ecosystems:
– The Resilience Fund for Women in Global Value Chains (UN Foundation, BSR, Women Win/Win-Win, Gap Foundation, PVH Foundation, H&M Foundation, the VF Foundation, and the Ralph Lauren Corporate Foundation)
– In Solidarity Program (Mastercard)
– Replenish Africa Initiative (The Coca-Cola Foundation)
Influencing public policy and speaking out as corporate citizens:
– Open for Business Coalition (39 major corporations)
– Racial Equality and Justice Task Force (Salesforce)
Applying rigorous accountability practices and sharing power with workers in supply chains and communities:
– Unilever’s Living Wage commitment (Unilever)
– Farmer Income Lab (Mars, ABinBev, Danone, Oxfam, IDH, Livelihoods Fund for Family Farming, UNDP)
– Amul Supplier Cooperative Ownership (Amul)
– Patagonia’s Implementation of Regenerative Organic Certified Standards in its Apparel Supply Chain (Patagonia)
The whitepaper outlines successes and pain points as these leading lighthouse partnerships between business and civil society strive for more meaningful participation with communities most impacted by systemic injustices. Each business is unique in its culture and path to long-term value creation, but all are committed to the belief that stakeholder primacy leads to optimal outcomes.
The time to move forward with these ideals is now, and the conclusion is clear in that, “…the crises of pandemic, protest and social disruption have created an inflection point for many companies to evaluate their corporate sustainability strategies,” said David Sangokoya, Head, Civil Society and Social Justice, World Economic Forum. “Stakeholder inclusion must be at the centre of any corporate action on equity and social justice in our unequal world…positioning business on the path towards redesigning business models that shift power and value towards stakeholder primacy.”
COVID vaccines: Widening inequality and millions vulnerable
Health leaders agree that a world without COVID-19 will not be possible until everyone has equal access to vaccines. More than 4.6 million people have died from the virus since it swept across the globe from the beginning of 2020, but it’s expected that the rate of people dying will slow if more people are vaccinated.
Developed countries are far more likely to vaccinate their citizens, which risks prolonging the pandemic, and widening global inequality. Ahead of a dialogue at the UN on Monday between senior United Nations officials UN News explains the importance of vaccine equity.
What is vaccine equity?
Quite simply, it means that all people, wherever they are in the world, should have equal access to a vaccine which offers protection against the COVID-19 infection.
WHO has set a global target of 70 per cent of the population of all countries to be vaccinated by mid-2022, but to reach this goal a more equitable access to vaccines will be needed.
Dr Tedros Adhanom Ghebreyesus, the Director-General of the World Health Organization (WHO) said vaccine equity was “not rocket science, nor charity. It is smart public health and in everyone’s best interest.”
Why is it so important?
Apart from the ethical argument that no country or citizen is more deserving of another, no matter how rich or poor, an infectious disease like COVID-19 will remain a threat globally, as long as it exists anywhere in the world.
Inequitable vaccine distribution is not only leaving millions or billions of people vulnerable to the deadly virus, it is also allowing even more deadly variants to emerge and spread across the globe.
Moreover, an unequal distribution of vaccines will deepen inequality and exaggerate the gap between rich and poor and will reverse decades of hard-won progress on human development.
According to the UN, vaccine inequity will have a lasting impact on socio-economic recovery in low and lower-middle income countries and set back progress on the Sustainable Development Goals (SDGs). According to the UNDP, eight out of ten people pushed into poverty directly by the pandemic are projected to live in the world’s poorest countries in 2030.
Estimates also suggest that the economic impacts of COVID-19 may last until 2024 in low-income countries, while high-income countries could reach pre-COVID-19 per capita GDP growth rates by the end of this year.
Is it working?
Not according to Dr Tedros, who said in April this year that “vaccine equity is the challenge of our time…and we are failing”.
Research suggests that enough vaccines will be produced in 2021 to cover 70 per cent of the global population of 7.8 billion. However, most vaccines are being reserved for wealthy countries, while other vaccine-producing countries are restricting the export of doses so they can ensure that their own citizens get vaccinated first, an approach which has been dubbed “vaccine nationalism”. The decision by some nations to give already inoculated citizens a booster vaccine, rather than prioritizing doses for unvaccinated people in poorer countries has been highlighted as one example of this trend.
Still, the good news, according to WHO data, is that as of September 15, more than 5.5 billion doses have been administered worldwide, although given that most of the available vaccines require two shots, the number of people who are protected is much lower.
Which countries are getting the vaccines right now?
Put simply, the rich countries are getting the majority of vaccines, with many poorer countries struggling to vaccinate even a small number of citizens.
According to the Global Dashboard for Vaccine Equity (established by UNDP, WHO and Oxford University) as of September 15, just 3.07 per cent of people in low-income countries have been vaccinated with at least one dose, compared to 60.18 per cent in high-income countries.
The vaccination rate in the UK of people who have received at least one vaccine dose is around 70.92 per cent while the US is currently at 65.2 per cent. Other high-income and middle-income countries are not doing so well; New Zealand has vaccinated just 31.97 per cent of its relatively small population of around five million, although Brazil, is now at 63.31 per cent.
However, the stats in some of the poorest countries in the world make for grim reading. In the Democratic Republic of the Congo just 0.09 per cent of the population have received one dose; in Papua New Guinea and Venezuela, the rate is 1.15 per cent and 20.45 per cent respectively.
What’s the cost of a vaccine?
Data from UNICEF show that the average cost of a COVID-19 vaccine is $2 to $37 (there are 24 vaccines which have been approved by at least one national regulatory authority) and the estimated distribution cost per person is $3.70. This represents a significant financial burden for low-income countries, where, according to UNDP, the average annual per capita health expenditure amounts to $41.
The vaccine equity dashboard shows that, without immediate global financial support, low-income countries would have to increase their healthcare spending by between 30 and 60 per cent to meet the target of vaccinating 70 per cent of their citizens.
What has the UN been doing to promote a more equitable access to vaccines?
WHO and UNICEF have worked with other organizations to establish and manage the COVID-19 Vaccine Global Access Facility, known as COVAX. Launched in April 2020, WHO called it a “ground-breaking global collaboration to accelerate the development, production, and equitable access to COVID-19 tests, treatments, and vaccines”.
Its aim is to guarantee fair and equitable access for every country in the world based on need and not purchasing power.
Currently, COVAX numbers 141 participants according to the UN-supported Gavi alliance, but it’s not the only way that countries can access vaccines as they can also make bilateral deals with manufacturers.
Will equal access to vaccines bring an end to the pandemic?
It’s a crucial step, obviously, and in many richer countries, life is getting back to some sort of normality for many people, even if some pandemic protocols are still in place. The situation in less developed countries is more challenging. While the delivery of vaccines, provided under the COVAX Facility, is being welcomed across the world, weak health systems, including shortages of health workers are contributing to mounting access and distribution challenges on the ground.
And equity issues don’t disappear once vaccines are physically delivered in country; in some nations, both rich and poor, inequities in distribution may still persist.
It’s also worth remembering that the imperative of providing equal access to health care is, of course, not a new issue, but central to the Sustainable Development Goals and more precisely, SDG 3 on good health and well-being, which calls for achieving universal health coverage and affordable essential medicines and vaccines for all.
Moscow electronic school — the future of education
The Moscow Electronic School (“MES”) project is a cloud-based Internet platform launched in 2016 that unites all educational institutions in Moscow into a single high-tech environment. After successful testing, since September 1, 2017, the MES has been implemented in all educational organizations (schools, kindergartens, colleges) in Moscow and is available online for any user from anywhere in the world, from any device 24/7/365. Today MES unites about 3 million participants in the educational process of the capital, including teachers, students and their parents.
The Moscow Electronic School project is aimed at the most effective use of the school’s IT capabilities to improve the quality of student education by forming a connection between the organizational and content aspects of the educational process (interactive equipment, as well as personal devices of users connected to the Internet, are linked with the educational materials of the platform).
The “MES” platform provides automation of most of the organizational, methodological and pedagogical tasks solved in a modern large educational organization, makes the content of education more accessible, allows in practice to implement modern pedagogical technologies and approaches, for example, blended learning, distance and electronic education.
Today “MES” has become a real digital assistant for the modern teacher. Thanks to special digital constructors, Moscow teachers in the “MES” Library create lesson scripts, “folk” textbooks, self-study guides, tests that students use in class, when preparing design work at school, in the course of independent work. Thus, the service allows not only to use the posted educational materials, but also to supplement the cloud educational platform with its developments and content, as well as to share them with colleagues. Electronic versions of textbooks, teaching aids, interactive applications and other modern digital content allow the teacher to diversify the content of the assignments and make the learning process fun for children and more effective.
The key elements of the digital educational platform are an electronic journal, an electronic diary, a library of electronic materials, the “Moskvenok” service (Pass and Power system), as well as infrastructure solutions: Wi-Fi access points with high-speed Internet, school servers, touch-controlled interactive panels with a built-in computer, teachers’ tablets and laptops, a video surveillance system and turnstiles at the entrance.
“MES Library” is a unique repository of educational electronic materials and tools. The service is implemented in the web version and as a mobile application “MES Library”. Library materials are available online at no cost to any user from anywhere in the world.
The “Moskvenok” service helps parents place an order for their child’s hot meals (if the school is connected to the hot meal ordering service from the menu), check his arrival or departure from school, college or kindergarten, control his meals in the school cafeteria and the costs of the cafeteria. Children can use the “Moskvenok” carrier (bracelet, keychain or card) as a pass to an educational organization and museums in Moscow, as well as for non-cash payments for purchases at school.
The electronic diary contains complete information on training: curriculum for the year ahead, schedule and attendance of classes, progress, analytics. The service makes it possible to find out about current events and activities. It is available both in the web version and in the form of the “MES Diary” mobile application.
In the new academic year, “MES” will be replenished with a wide range of diverse partner educational content, which has already proven itself well among teachers and schoolchildren. Thanks to this, an additional 45 thousand units of new tools and materials will appear in the library: interactive presentations for lessons, design and research tasks, virtual laboratories and tests. Most of the tasks will be self-checking, that is, after completing the work, the teacher, student and parent can immediately familiarize themselves with the results.
Another important area in the Moscow Electronic School is virtual laboratories – interactive online simulators of experiences and experiments for children and adults, which allow improving knowledge and skills in the subjects of the school curriculum. At the beginning of the academic year, new virtual laboratories for drawing, inorganic chemistry, computer science, mathematics, biology and physics will appear at the “MES”.
This year, in the library of the Moscow Electronic School, the collection of virtual laboratories has been replenished with 10 new laboratories in the section of biology “Cytology” for schoolchildren in grades 5-11. It has an interactive virtual microscope that allows you to view individual cells. And the children can consolidate the knowledge gained by “collecting” cells in a game format, solving an interactive problem or passing a thematic quiz.
It is now possible to design and conduct experiments on electrostatics, magnetostatics and electromagnetism in the virtual laboratory “Electromagnetic field. Faraday”, which became the fifth in the line of physics laboratories. The new laboratory will help schoolchildren to master the main sections of electrodynamics: electrostatics, magnetic field and electromagnetic phenomena.
Another novelty is the virtual laboratory “MES Informatics” for students in grades 7-11. Children will be able to test their knowledge using 290 ready-made tests, practice using more than 9 thousand tasks, and also take 254 programming courses.
An important innovation of the “MES” is the new “Student portfolio” service. It will accumulate the results and achievements of schoolchildren not only in the educational part, but also in olympiads, competitions, sports competitions. Also, students and their parents will be able to independently enter information into the new service, edit data and share their portfolio with friends, teachers, organizations.
Thematic materials about Russian writers
At the end of July, the project “Moscow Electronic School” made available thematic materials about the life and work of one of the greatest poets of the golden age of Russian literature – Mikhail Lermontov.
Also, the project “Moscow Electronic School” presented a thematic selection of materials about the life and work of Fyodor Dostoevsky in the year of the 200th anniversary of the birth of the writer. Schoolchildren are offered to go on a virtual trip to St. Petersburg of the XIX century and get acquainted with the peculiarities of the worldview of the classic.
The Demise of a French Sub Deal: Is China a Threat?
The conflict between emerging and existing powers is almost as old as time. Labeled the Thucydides Trap, it first recounted...
Lighthouse Partnerships Gain Momentum on Social Justice
Crises in climate, health and inequality are compelling organizations to align business strategies with equity and social justice values. In...
AUKUS: Human-made disaster
AUKUS is a new military alliance that emerged recently, among Australia, UK, and The US. Under this alliance, it has...
Visit of Vietnamese President to Cuba
Following the outbreak of the Corona pandemic in Vietnam, the government has decided to procure 10 million doses of Abdala...
Finding Fulcrum to Move the World Economics
Where hidden is the fulcrum to bring about new global-age thinking and escape current mysterious economic models that primarily support...
The failure of the great games in Afghanistan from the 19th century to the present day
Whenever great powers have tried to make Afghanistan a colony, they have always been defeated. British imperialism and its “civilising...
From the 2004 tsunami relief efforts to the 2021 leaders’ summit, the Quad has come a long way
The Quad plurilateral mechanism in the Indo-Pacific reached the landmark summit level in March, this year. With its second summit...
Middle East3 days ago
Turkey’s Destruction of Cultural Heritage in Cyprus, Turkey, Artsakh
Economy3 days ago
A New Strategy for Ukraine
Defense4 days ago
A Glimpse at China’s Nuclear Build-Up
International Law4 days ago
The rise & rise of populist demagogues in democratic nations
Diplomacy4 days ago
International Relations Amid the Pandemic
Southeast Asia3 days ago
Indonesian G20 presidency promises to put a ‘battle for the soul of Islam’ on the front burner
Development4 days ago
Better Targeting of Social Protection Programs can Significantly Reduce Poverty in Bangladesh
Economy3 days ago
Synchronicity in Economic Policy amid the Pandemic