Russia’s Ukraine war is putting a drag on Africa’s economy, says Yellen

U.S. Treasury Secretary Janet Yellen. Picture: DENIS BALIBOUSE/REUTERS

Speaking at the start of a three-country visit to Africa, Yellen said some emerging-market countries were saving even more by using the price cap to negotiate steeper discounts with Russia, and Treasury was encouraging others to follow suit. Washington provided about $13bn in emergency aid and food assistance last year and was now setting up a US-Africa strategic partnership to address the short-term food needs of more than 300-million Africans, Yellen said. It is also helping to build more resilient and sustainable systems for the future.

Yellen met earlier with Senegal’s minister of economy, international planning, and co-operation Oulimata Sarr, who like Yellen is also the first woman to serve in her current role.

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Russia’s Ukraine war is putting a drag on Africa’s economy, says YellenG7-led price cap on Russian crude oil could save the 17 largest net oil-importing African countries $6bn a year I'm sure she meant Nato's war with Russia.
Source: BDliveSA - 🏆 12. / 63 Read more »

Yellen says Russian oil price cap could save African countries $6 bln annuallyRussia's war against Ukraine is hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag on the continent's economy, U.S. Treasury Secretary Janet Yellen said in Senegal's capital Dakar on Friday. All the grain released from Ukraine under the grain deal, how many percent went to Africa? People that hoarded all COVID 19 vaccine all of a sudden care about Africa? The west time of propaganda is up. Correction Madame Secretary,the era when Africa & Africans regarded 'uncle sam's' word as for lack of a better expression 'credible' are over, it's NATO's war against Russia bt most of us are happy the Russians have proved they're not iraq libya afghanistan RIP WEST propaganda I wonder how much our military presence and/or sanctions are putting a drag on their economies?
Source: ReutersAfrica - 🏆 31. / 53 Read more »