The US Treasury secretary says the Biden administration’s commitment to the continent is “not for show” or “short-term”.
US Treasury Secretary Janet Yellen reaffirmed her country’s commitment to deepening relations and trade with Africa during a visit to Senegal amid continent-wide competition with China and Russia.
“The United States is totally on board with Africa, and totally on board with Africa,” Yellen said Friday morning at a business incubator in the Senegalese capital of Dakar, where she touted the fruits of a new “mutually beneficial” US economic strategy. ” towards Africa. .
“Our commitment is not transactional, it is not for show, and it is not short-term,” he said.
Yellen’s three-country tour of the region comes just weeks after US President Joe Biden hosted the leaders of dozens of African nations, as well as the African Union, for the second Summit of US and African leaders in Washington, DC.
The talks were a follow-up to the first such meeting hosted by former US President Barack Obama in 2014. They highlighted Biden’s efforts to strengthen ties with like-minded countries across the region.
The Biden administration unveiled a series of new economic investments and trade deals in Africa during the summit, with Biden personally expressing his support for the African Union’s push for a permanent seat in the Group of 20 global economies forum ( G20).
China, which Washington has viewed as its main global competitor, has consistently outperformed the US in its investments in Africa in recent years. Russia has also been trying to rally support on the mainland in response to pressure from the United States and its allies over the war in Ukraine.
Last weekend, Chinese Foreign Minister Qin Gang wrapped up a week-long tour of African nations, including Ethiopia, where he emphasized Beijing’s partnerships on security and economic development in the region.
Qin, whose trip included stops in Gabon, Angola, Benin and Egypt, also rejected the idea that China competes with the United States in Africa.
“What Africa needs is solidarity and cooperation, not bloc competition. No one has the right to force African countries to take sides,” the Chinese foreign minister said from the Ethiopian capital Addis Ababa.
In an implicit contrast to China, which takes a hands-off approach in investing countries, Yellen said Friday that the United States has taken a “different tack,” prioritizing “transparency, good governance, accountability and environmental sustainability”.
“While our approach can be demanding, we believe it delivers lasting results,” said Yellen, who is expected to meet Senegal’s Finance Minister Mamadou Moustapha Ba and President Macky Sall later in the day.
He is scheduled to travel to Zambia on Sunday and then to South Africa.
During her speech in Dakar, the US Treasury Secretary said that African governments need the “fiscal space” to be able to make “significant” public investments.
“We believe that the international community, including China, must provide significant debt relief to help countries regain balance,” he said.
Yellen also called for an end to Russia’s invasion of Ukraine, entering politically murky territory as some African heads of state have not condemned the war due to relations with Moscow.
“Russia’s barbaric aggression against its neighbor is being particularly felt by Africa and its people,” Yellen said.
“Russia’s war and militarization of food has exacerbated food insecurity and caused untold suffering. And the global economic headwinds caused by the actions of one man: the president [Vladimir] Putin, you are creating an unnecessary drag on Africa’s economy.”
