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US treasury chief Janet Yellen arrives in Senegal

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The US Treasury Secretary Janet Yellen on Friday in Dakar touted her nation’s relationship with Africa, saying it supplied extra advantages than Washington’s rivals.

“The USA is totally behind Africa and totally with Africa,” Yellen mentioned at first of a visit to Africa, one of many first in a collection anticipated from senior Biden administration officers because the launch in December of a US offensive to regain affect on a continent that’s the website of fierce financial and political competitors between nice powers.

Joe Biden has promised to make his first go to as president to sub-Saharan Africa at a summit with the leaders of some 50 African states in December. Yellen mentioned the go to would happen this 12 months, together with that of Vice President Kamala Harris and several other ministers.

“Our dedication just isn’t bargainable, it’s not window dressing, and it’s not quick time period,” Ms Yellen advised an viewers of entrepreneurs.

Ms Yellen promised Africa a “partnership” in improvement, funding and commerce within the areas of local weather, well being and safety. It’s about realising the “huge financial potential” represented by Africa due to its youth and rising inhabitants and center courses, she mentioned.

Ukraine, debt

She contrasted the US and Russian approaches. Many African nations refused to align themselves with Western positions on Ukraine. After the Covid-19 pandemic, Russia’s warfare in Ukraine “has pushed tens of millions of Africans into poverty and starvation”, she mentioned. She accused Russia of utilizing meals as a weapon.

“The very first thing we will do for the worldwide financial system is to finish Russia’s unlawful warfare with none provocation,” she mentioned.

She additionally referred to the practices of China, which is more and more current on the continent, and specifically the over-indebtedness of many African nations to China.

“The worldwide group, together with China, should present vital debt aid to assist nations get again on their ft,” she mentioned.

In distinction, US commitments in Africa consider the hazard of debt, but in addition “excessive requirements of accountability and transparency”, she mentioned, echoing frequent accusations of social or environmental shortcomings towards corporations in some nations, together with China.

She additionally referred to the “completely different strategy” of the USA by way of the precedence given to good governance or environmental accountability by African governments and establishments.

Ms Yellen was attributable to be obtained Friday night by Senegalese President Macky Sall. She is because of journey to Zambia on Sunday after which to South Africa.