Right now John, 3.4 billion people are living in countries that spend more money paying off the interest on their national debt than they do on health or education. [1]

By reducing their reliance on foreign currencies (mainly the almighty US dollar) for financing debt, countries in the Global South can increase their ability to invest in a green transition, and escape external debt burdens owed to countries and companies based in the Global North.

Hosted alongside the Institute for Economic Justice based in South Africa, join our next online event to learn about the opportunities, progress, and challenges that increasing local currency financing can have on tackling the international debt and climate crises.

⏰ 5.30pm - 6.45pm UK GMT

🗓️ Thursday 22nd January

🖥️ Online on Zoom (link emailed after registration)

The climate and debt crises continue to wreaking havoc on some of the most vulnerable populations on the planet John, as well as here at home. And rather than being two separate issues, they are in fact highly connected. 

But there’s a solution gaining traction - very rarely discussed - that could play a vital role in tackling both crises simultaneously: local currency trade and financing.

Hear from our global panel of speakers to find out more:

• Dr Redge Nkosi (Executive Director, Firstsource Money and Monetary Reform International)

• Fernanda Balata (Associate Fellow, New Economics Foundation)

• Dr Mzwanele Ntshwanti (G20 Senior Researcher, Institute for Economic Justice)

• Chaired by Dr Danisha Kazi (Head of Research, Positive Money)

Followed by an audience Q&A 

Building on our report, Beyond Dollar Dominance, and our webinar last August, A World Beyond the Dollar?, it’s probably not news to you that our International Monetary and Financial System is deeply hierarchical and unjust. [2] 

Now together, let’s delve deeper into the question of how to build an alternative: a fairer financial architecture with a larger role for local currencies in trade and finance, and why this is crucial for climate and debt justice.

I hope you can join us later this month!

Alec

Alec Haglund

Senior Researcher, Positive Money

Notes:

[1] UNCTAD: Global public debt hit a record $102 trillion in 2024, striking developing countries hardest

[2] Positive Money report: Beyond Dollar Dominance: New money and payment systems for a multipolar world 

     Positive Money YouTube: A World Beyond the Dollar?

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