Climate Change

The lack of participation of African states in the WTO dispute settlement system is indicative to a certain extent of the discomfort that most African states feel vis-à-vis the said system. A future reform of the DSU must necessarily include procedural and substantive aspects to render dispute settlement more flexible for African countries.

This week, we offer an exciting treat to followers of the Afronomicslaw Blog! We are bringing the discussions on reform at the World Trade Organization (WTO) to you, from a unique “Global South” perspective. As WTO Members struggle to find solutions to the impasse in the selection process for appointing Appellate Body Members, and as concerns abound about the ability of the WTO to successfully navigate new issues confronting the multilateral trading system, I approached the editors of Afronomicslaw with the idea of dedicating a symposium to views of developing countries on the topic of WTO reform.  Thankfully, they were receptive, and I am proud to count among this week’s contributors: a former Appellate Body Member, WTO law academics, and practitioners hailing from Africa, India and the Caribbean.

This analysis demonstrates three key points. First, it is becoming untenable for central banks to avoid incorporating their human rights impacts into their decision-making and operations. Second, a human rights approach offers central banks a new tool for understanding the true costs and benefits of their operations. Third, central banks can meet their human rights responsibilities without compromising the independence they need to meet their monetary and financial responsibilities.