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It’s been almost a year since European and African leaders met in Brussels for a summit that marked the beginning of a “new partnership” between the two continents.
The summit’s final declaration, dubbed the ‘Joint Vision Towards 2030’, calls for, among other things, $25 billion annually over the next seven years, 450 million Covid vaccines, and more than $300 billion in energy and infrastructure to invest in Africa. I promised to
Almost a year later, European and African leaders are struggling to get started.
Brussels has not made any major decisions on investments and infrastructure, which are of great interest to African leaders.
The war in Ukraine has distracted Europe and even caused tensions with African countries that have chosen neutrality.
The summit also appears to have done little to improve mutual trust.With Europe still unenthusiastic about backing vaccine patent waivers, Brussels is getting serious about Africa’s health sovereignty ambitions. There are growing doubts about whether
Geert Laporte is a Europe-Africa specialist at the European Center for Development Policy and Management. He joins the show to give insight into how two continents can move forward in an often difficult and complicated relationship.
Ethiopia discusses currency devaluation
A dollar shortage in Ethiopia has put a heavy strain on the local currency, the bull, and has led to large differences between official and black market exchange rates.
As a remedy, the country’s central bank is considering devaluing its currency.
The move is necessary for Addis Ababa to attract IMF support and boost exports.
Davos 2023: Economists warn of recession
A majority of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023.
This is not good news for African countries already struggling to recover from the stress of the pandemic.
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