US Treasury Secretary Janet Yellen continues her tour of Africa
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After a first stopover in Senegal, the US official spent two days in Zambia, where the country’s debt was discussed in particular.
Debt restructuring is crucial. This is one of Janet Yellen’s main messages to the power of Zambia. The Secretary of the Treasury of the United States met there with the Head of State, Hakainde Hichilema. During the exchanges, debt sustainability, poverty reduction and the fight against corruption and illicit finance were discussed. A visit that took place while the head of the IMF was also in Zambia, the first country in 2020 to find itself in default.
As the United States Secretary of the Treasury cheered ” Impressive progress on a wide range of economic reforms “There is still room for progress, he added, particularly with one of its main creditors: China. Janet Yellen, who met a Chinese delegation last week in Switzerland, said she had talks ” constructive ” About that.
President Hakainde Hichilema spoke of a “ fruitful meeting “, and call for” mutually beneficial partnerships “through the development of trade and investment” that promote sustainable growth and job creation particularly in the renewable energy sector.
China, Russia: competitors in the American rear-view mirror
Janet Yellen was expected this Tuesday night in South Africa. The American must stay three days in North Africa. A visit that is part of an African tour aimed at strengthening ties between Washington and the continent, extended under the presidency of Donald Trump.
With this visit, Washington tries to regain influence on the continent, which has become a field of strong economic and political competition with China and Russia. In fact, Beijing has become Africa’s main trading partner and a major investor in infrastructure and mining projects in Ghana, Guinea, the Democratic Republic of the Congo, Zambia and Zimbabwe. Just appointed, China’s new foreign minister Qin Gang made his first trip to five African countries last week.
Competition also with Russia, whose foreign minister Sergei Lavrov preceded the American in Pretoria. In Dakar, Janet Yellen denounced ” Russia’s barbaric aggression against its neighbor Ukrainian and its consequences. In particular, the exacerbation of food insecurity in Africa. Moscow has managed to extend its influence on the continent, in particular through its paramilitary activities. Next month, Pretoria is also due to participate in joint military exercises with Russia and China.
With the visit of Janet Yellen, Washington wants to remember that the United States is a reliable partner in terms of economics and development aid.
US President Joe Biden recently announced that he will visit sub-Saharan Africa at the end of the year. The first trip by a sitting US president since Barack Obama’s ten years ago.