“The world as we know it has changed for aid, trade and development,” says the Director-General of the World Trade Organization. Sub-Saharan Africa nations this year face a 16-28% decline in official development assistance; pressure from trade tariffs, and a serious liquidity crunch and foreign currency shortage for commercial banks. Where will funding come from for Africa’s SMEs, green transition, digital infrastructure and healthcare projects when external debt service reached a record $89bn last year? As some central banks ease interest rates and stockpile gold reserves, governors from the continent’s major economies discuss how to build internal resilience.
Key points:
- Where can central banks intervene to strengthen domestic resource mobilisation?
- How can policymakers guarantee reliable hard currency access for SMEs, the backbone of the economy?
- A new financial architecture: What are the risks and rewards of Middle East and Asian capital versus Western sources?