Ha-Joon Chang talks development finance with LSE's Natalya Naqvi

At DLD's second Future Leaders Programme, Co-Director Ha-Joon Chang talks to LSE's Natalya Naqvi about African economic sovereignty and the development financing example she wishes more people knew about.

[@PaddyCarterUK]

I would have thought it's not just about risk but also liquidity - I think (?) the point of reserves is that you might need them in a hurry, so if you are saying to African FIs "here are some dollars, but you need to be able to give them back to us on demand" I suspect that very much limits what the FIs can do with them. If you want larger and more reslient African FIs, I would have though the priority is more equity capital, and I don't know that dollars are especially useful for that purpose (I mean I genuinely don't know).