JUNE 2022
Dear friends and colleagues,
On May 18, I met with the IMF director for Africa, Abebe Aemro Selassie, for a special conversation on the IMF Regional Economic Outlook. In the face of Russia’s invasion of Ukraine, low COVID-19 community vaccination rates, increasingly severe climate incidents, and a global economic downturn, what policy options are available to African policymakers? And how do calls for reforming the Bretton Woods system and global financial institutions impact the path forward? Watch a replay of the event here.
One U.S. initiative that could support the long-term economic development in African countries is Prosper Africa. Congress is at this moment considering a bill backing the initiative, the Prosper Africa Act. In our recent piece, Katie Auth and I propose the bill aim to address sectoral specificity, align U.S. and African strategic economic priorities, and proactively engage stakeholders in key African markets.
Another recent initiative which could do with more African participation is the U.S.-led Declaration for the Future of the Internet. Announced in April 2022, there are three African countries – Cabo Verde, Kenya and the Republic of Niger – among the 60 signatories, as our Chart of the Month below shows. Although the Kenyan government later clarified that they have not yet completed the formal process for endorsing the declaration. Keep an eye out for Africa Program fellow Jane Munga’s forthcoming article analyzing the implications of this declaration.
As French president Emmanuel Macron begins his second term, will he persist in his efforts to reset France’s Africa policy? How will France surmount the transactionalism, bureaucratic infighting, and mixed political messaging that marred engagement with Africa during Macron’s first term? What is France’s future as a security partner in the region? How should Macron leverage his new presidential mandate—and France’s presidency of the Council of the EU—to facilitate political partnerships between Europe and Africa? The University of Oxford’s Corentin Cohen lends his expertise in this paper.
In mid-May, the UK’s Foreign, Commonwealth, and Development Office published the UK Government’s Strategy for International Development. The strategy is characterized by a geopolitical bent, an endorsement of “aid for trade”, and the announcement of cuts in aid to multilateral organizations. Jonathan Glennie and I anticipated the UK government’s shift toward decreasing development engagement in February’s Sign of the Times: How the United Kingdom’s Integrated Review Affects Relations with Africa.
There is much more on our website, Carnegie Africa. You can sign up here to receive our latest analysis and to learn more about our public events. And be sure to follow us on Twitter @AfricaCarnegie.
Sincerely,
Zainab Usman
Director, Carnegie Africa Program
CHART OF THE MONTH
Join Carnegie, in partnership with the International Monetary Fund, for a special conversation on the IMF Regional Economic Outlook, featuring Carnegie Africa director, Zainab Usman, and IMF director for Africa, Abebe Aemro Selassie
While Macron’s pivot has created new political space for France-Africa engagement on more equal footing, the French president’s vision of mutual aid and reciprocal partnerships between France and African countries remains unfulfilled. Corentin Cohen
This analysis draws out the implications of the UK’s 2021 integrated review for African countries and recommends next steps for African and other international stakeholders to navigate the UK’s overhauled external relations strategy. Zainab Usman & Jonathan Glennie
South Africa’s $8.5 billion Just Energy Transition Partnership addresses vital questions about how African countries can best use international climate finance. In doing so, it provides a framework for negotiating support for other economies in the region through flexible fora like the G7. Olumide Abimbola & Zainab Usman
DEVELOPMENTS ON OUR RADAR
- Explore Sudan's pyramids of Meroë. [Google]
- Biden eyes September UN session for U.S.-Africa summit. [The Africa Report]
- What do the African Development Bank Annual Meetings mean for Chinese energy finance in Africa? [China Global South Project]
- Chinese, Australian investors battle for largest lithium deposit. [Bloomberg]
- Germany is looking to West Africa to help solve its gas woes. [Quartz Africa]
IN THE NEWS
- The Carnegie Africa Program’s analysis on Chinese lending in Africa was cited by The Economist in their special report on China in Africa.