Thread by @avtarsehra

Having access to foreign currency, or other money constructs, substituting as a medium of exchange, wont magically drive economic growth and stability in an emerging economy.

The concept of “banking the unbanked” without understanding foundations of economic policy is harmful.

In cases where less developed economies leverage currencies like #Libra it could lead to longer term sustained negative impacts to those economies.

At worst, emerging economies leveraging #Libra will likely see their economies drained of wealth as it is transferred wholesale to the developed economies.

We have a two part overview of #Libra here:

Part 1: bestexecution.net/blog-facebooks…

Part 2: bestexecution.net/blog-facebooks…

Is crypto (Libra) the tool for new wave of corporate colonialism?

‘We must have courage to say there is a cord preventing development in Africa that must be severed.’ The ‘cord’ he referred to is over 70 years old, and is known as the CFA franc.

blogs.lse.ac.uk/africaatlse/20…