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African Union Report Warns Middle East War Threatens Africa's Growth
The report says 29 African currencies have depreciated and warns that higher fuel and food costs could deepen inflation and strain budgets.
- The African Union and the African Development Bank stated in a report released Saturday that the Middle East war "presents a serious risk to Africa," threatening to curtail economic growth and increase living costs across the continent.
- Disruptions to regional trade are significant, as the Middle East accounts for 15.8 percent of Africa's imports and 10.9 percent of its exports. Reduced deliveries of liquefied natural gas from the Gulf will impact fertilizer production during the crucial planting period up to May.
- Data from the AfDB shows the currencies of 29 African countries have depreciated, raising debt-servicing costs and making imports more expensive. A loss in output growth of 0.2 percentage points on Africa's GDP is projected for 2026 if the conflict exceeds six months.
- The conflict could trigger a cost-of-living crisis through higher food and fuel prices, rising shipping costs, and tighter fiscal conditions. Above all, the crisis could increase the costs of humanitarian aid and divert donor funds toward other priorities.
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Middle East Crisis: AfDB, Others Task Africa on Long‑term Structural &
By Dipo Olowookere The need for Africa to protect itself from many external shocks not of its making has again been emphasised by the African Development Bank (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP), and the UN Economic Commission for Africa (UNECA). On the margins of the 58th session of […]
Coverage Details
Total News Sources29
Leaning Left3Leaning Right6Center10Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 16%
C 53%
R 31%
Factuality
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