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West, China must ‘urgently’ cooperate to avert Africa’s debt distress

The West and China should seek deeper cooperation over Africa’s debt conundrum in 2023, without which many countries on the continent will face debt distress and defaults, a new research paper by Chatham House warns. The report warns that although China’s lending to Africa did not cause the current African debt distress in most cases […]

Morocco, Mauritania take next steps in grid interconnection

Morocco’s water and electricity agency ONEE and Mauritania’s electricity supplier SOMEC signed an agreement to connect their electricity grids. The agreement was signed by head of ONEE Tarik Hamane with his counterpart Sidi Salem Mohaned Elabd in Nouakchott. The project “is part of the Royal Atlantic initiative that aims at promoting African integration and south-south […]

Resilience through tough times: East Africa’s economic recovery hindered by debt and deficits

The economies of East Africa face rather bleak prospects for growth this year because of the increasing risk of debt distress, widening fiscal and current deficits and limited economic diversification plans, according to the latest forecast by the African Development Bank (AfDB). The AfDB forecasts the region’s GDP at 4% this year, before recovering to […]