“China” Warning from US Treasury Secretary Yellen
US Treasury Secretary Yellen spoke during her visit to a business development center that provides loans to youth and women entrepreneurs in Dakar, the capital of Senegal, the first leg of her 3-country African tour.
Yellen stressed that the US is working with African leaders to reduce the impact of Russia’s “illegal” war on the continent, which has slowed growth with the covid-19 outbreak and pushed millions of Africans into poverty. poverty.
Stating that ending the war with Russia would also ease the global economy, Yellen said the war mostly puts an unnecessary burden on the African economy.
Emphasizing that Africans demand more transparent governance and accountability from their governments, Yellen stated that this is the prerequisite for sustainable economic growth.
“ATTENTION TO THE BRILLIANT AGREEMENTS”
Yellen also criticized China’s borrowing from African countries in exchange for investment. saying.
Saying these deals could leave a legacy of debt for countries if care is not taken, Yellen said the international community, including China, should alleviate debt to allow African countries to recover.
Yellen emphasized that the United States’ relationship with Africa is neither short-term nor non-negotiable, noting that the continent has enormous potential with its growing young population and growing middle class.
Affirming that the increase in the workforce is an opportunity for the continent, Yellen said: “Africa is still the youngest continent in the world. The average age in Senegal is 19 years. Every month, 1.7 million Africans enter the labor force. The labor force in sub-Saharan Africa by 2035 will exceed the total labor force of the rest of the world”. she used her statements.
Yellen added that they want to invest 350 million dollars for an accessible internet network and digital entrepreneurship in Africa.
Yellen will meet Finance Minister Mamadou Moustapha Ba as part of her contacts in Dakar and will be received by President Macky Sall. (AA)