African economies struggle to recover from ongoing impact of Russia-Ukraine war

Three years after Russia’s invasion of Ukraine, African economies continue to grapple with the long-term effects of the conflict, with many nations still feeling the sting of rising inflation, disrupted supply chains, and escalating debt risks.
A new report from the Overseas Development Institute (ODI) highlights that while some regions, such as East Africa, have seen inflation stabilize, many other countries are still struggling with elevated commodity prices and strained public finances. The war has exacerbated Africa’s debt crisis, as countries like Kenya, Uganda, and Tanzania face high borrowing costs, pushing them to the brink of default. Experts warn that the conflict, coupled with the Covid-19 pandemic, has left many economies with unsustainable levels of public debt. This has been compounded by rising interest rates, largely due to the US Federal Reserve’s actions, which have made loans more expensive across the continent.
The economic impacts of the war are felt most acutely in low-income African countries, which have limited capacity to absorb shocks. Food, fertilizer and fuel prices, which spiked due to the disruption of supply chains, have only partially receded, remaining significantly higher than pre-pandemic levels. Gender disparities have worsened, with women bearing the brunt of rising food insecurity and economic instability. Experts stress that addressing these challenges requires targeted policies, including gender-sensitive interventions and resilience-building measures, to help African economies recover from the ongoing repercussions of the war.