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African Union Report Warns Middle East War Threatens Africa's Growth
The report says currencies in 29 African countries have depreciated, adding pressure to debt, imports and food security as war disrupts trade and energy supplies.
- On Saturday, the African Union and African Development Bank reported that the Middle East war "presents a serious risk to Africa," warning the conflict threatens to increase living costs and curtail economic growth across the continent.
- The Middle East accounts for 15.8 percent of Africa's imports and 10.9 percent of its exports, creating direct vulnerability to supply disruptions and pricing shocks across the continent.
- Recent AfDB data shows currencies in 29 African countries have already depreciated, increasing debt servicing costs; reduced LNG deliveries from the Gulf threaten fertilizer production during the critical planting period up to May.
- Projections indicate a 0.2 percent loss in Africa's GDP growth by 2026 if the conflict exceeds six months, even as Kenya establishes itself as a logistics hub and Ethiopian Airlines serves as an "emergency air bridge."
- While rerouting ships around the Cape of Good Hope could benefit ports in Mozambique, South Africa, Namibia, and Mauritius, the crisis threatens to increase humanitarian aid costs and divert donor funds from other priorities.
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Mideast war presents ’serious risk’ for Africa: report
The US-Israeli war on Iran "presents a serious risk to Africa", the African Union and the African Development Bank (AfDB) said in a report seen by AFP Saturday. The conflict threatens to increase the cost of living and curtail growth on the continent, the report warned. The Middle East accounts for 15.8 percent of Africa's imports and 10.9 percent of its exports, the report noted. "The conflict, which already has triggered a trade shock, could q…
·London, United Kingdom
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Coverage Details
Total News Sources51
Leaning Left9Leaning Right9Center16Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 27%
C 47%
R 26%
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