Alongside the Institute for Economic Justice, we co-hosted a webinar on whether local currency financing can help solve the intertwined crises of debt and climate, which you can now watch the recording of on YouTube.
We know money is far from neutral and that currencies are not created, or treated, equally, as outlined in our report: Beyond Dollar Dominance. By entrenching dependency on a handful of foreign currencies for trade and finance, the global monetary and financial system severely constrains the economic policy space in the Global South to respond to the climate and debt crises. Increasing the use of local currencies is now gaining momentum as a policy approach to build a…