Treasury Secretary Janet Yellen used her first speech on African soil to take direct aim at Russia and to call on China to offer debt relief to struggling economies.
— Treasury Secretary Janet Yellen used her first speech on African soil to take direct aim at Russia — citing the war in Ukraine as the leading cause of African misery — and to call on China to offer debt relief to struggling economies.offer Africa, and not dwell on where other countries fall short. But Russia’s military aggression and China’s unyielding approach to indebted, poor countries, is the unavoidable background music to Yellen’s three-country tour.
"Russia's war and weaponization of food has exacerbated food insecurity and caused untold suffering.”: Yellen’s shot at China is more subtle, but it comes after she raised concerns about Zambia’s debt restructuring directly with China’s Vice Premier Liu Hu in theirMany African countries "simply have unsustainable debt burdens," Yellen said.
While Africa's natural resources are still of crucial importance, especially its minerals, Yellen is more focused on tapping into Africa’s human capital and helping individual entrepreneurs and workers realize their potential.Yellen rattled off some demographic statistics to make her case that the time for engaging Africa's workforce is now.Some 1.7 million Africans enter the job market every month.
"Demographics is not destiny," she said. "Africa’s demographic momentum can propel economic growth if, and only if, adequate investments are made today to create economic opportunity for all."Even if part of the trip is about offering African countries an alternative to China, Treasury officials bristle that Beijing is the main motivating factor behind the trip.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
US officially hits debt limit, begins 'extraordinary measures' to pay billsTreasury Secretary Janet Yellen told Congress on Thursday that Treasury has begun taking 'extraordinary measures' in order for the government to meet its financial obligations.
Consulte Mais informação »
Janet Yellen Says U.S. Begins Extraordinary Measures to Avoid Debt DefaultBreaking: The U.S. has bumped up against the debt limit. The Treasury began special measures to avoid a default as Congress prepares for a debate on raising the ceiling.
Consulte Mais informação »
Janet Yellen Pledges to Deepen Africa Ties as U.S. Wards Off Russian, Chinese InfluenceTreasury Secretary Janet Yellen pledged further U.S. investment in and trade with Africa as she began a three-country tour of the continent
Consulte Mais informação »
Yellen says Treasury is taking extraordinary measures to avoid default as U.S. hits debt limit
Consulte Mais informação »
Treasury began using 'extraordinary measures' Thursday as debt limit reached, Yellen saysTreasury Secretary Janet Yellen confirmed to top U.S. lawmakers in a letter that her department began to use 'extraordinary measures' on Thursday due to the...
Consulte Mais informação »
Treasury is starting 'extraordinary measures' to avoid debt default, Yellen tells lawmakersThe Treasury Department began using 'extraordinary measures' to avoid defaulting on the nation's debt. Secretary Janet Yellen urged Congress to act.
Consulte Mais informação »