Global Economy

EconomyOpinionPolitics & Policy

The Middle East war is hurting Africa. Here is how the continent fights back

As the Middle East war pushes African currencies lower and borrowing costs higher, a Pretoria scholar sets out how the continent must respond
Scattered South African rands notes against a white background.
Opinion

The G20 must end the cost-of-capital penalty imposed on Africa

Africa's cost of capital crisis is not rooted in economics alone, but is perpetuated by perception and precedent, as well as the structural inertia of a global financial system that systematically overprices African risk
View of Joburg inner city from Gandhi Square, Johannesburg, Gauteng, South Africa
Economy

Africa’s debt crisis demands more than G20 declarations

African nations are trapped: spending more on debt servicing than on health or education, whilst climate shocks compound their struggles. South Africa's G20 tenure has highlighted the crisis, but substantive solutions remain elusive
President Cyril Ramaphosa leads South African delegation to virtual G20 Leaders' Summit in November 2020
Economy

Growth in sub-Saharan Africa set to strengthen as other regions struggle with the impact of US trade barriers

Sub-Saharan Africa is one of two regions expected to strengthen their economies this year, despite the fact that most of the world is set to experience its slowest pace of growth since 2008
The World Bank Group headquaters in Washington D.C.
EconomyPolitics & Policy

Africa’s debt crisis demands a bold new approach

Africa cannot rely on the global community to provide adequate funding or debt relief to address its development needs and crises, such as pandemics or extreme weather events
South African President Cyril Ramaphosa and other G20 leaders at the opening ceremony of the 2023 G20 Leaders' Summit in New Delhi, India, on 9 September 2023. The G20 agreed a Common Framework that was supposed to help resolve the sovereign debt crises in low income countries. Four African countries applied to have their debts restructured through the framework. Despite years of negotiations, it has failed to fully resolve the debt crisis in three of them.
EconomyOpinion

The conceptual roots of the debt crisis in the Global South

Growing debt crisis in the Global South largely the result of a flawed multilateral system, and also reflects inadequacies of the dominant analytical and policy frameworks
A map displayed in a shop in the US shows pins and currencies left by visitors from around the world. Based on the number of pins on the map, it seems that most visitors are from the United States, followed by Western Europe.
Politics & Policy

African ideas for reforming global institutions by far the best

Africans bear the brunt of the failings of global institutions; they are therefore strong advocates for global governance and financial reform, and for new, bold, sustainable investments
A street scene of Arusha, Tanzania
EconomyHealth

India’s Covid crisis is bad news for the world economy

India’s second coronavirus wave has had a devastating impact, with over 300,000 new cases and 3,000 deaths each day
Covid-19 testing centre in India
OpinionPolitics & Policy

It’s time Africa played a greater role in the G20

Rather than including Africa in wider discussions about global trade architecture, climate change, and the future of work, the G20 has largely limited its engagement with the continent to addressing narrower development issues
African presidents in a group photo
Politics & Policy

Top job for South African gives African countries sway at the IMF

South Africa’s Reserve Bank Governor, Lesetja Kganyago, has been selected as the first sub-Saharan African to serve as chair of the International Monetary and Finance Committee