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Do Western Nations Keep Africa Impoverished?

Africa is a continent with a rich history and culture, but it is also one of the most impoverished regions in the world. According to the World Bank, 43% of Africans live below the poverty line, and the continent has the highest rate of child malnutrition in the world.

There are many reasons why Africa is so impoverished, but some experts believe that Western nations play a role in perpetuating this problem. These experts argue that Western nations have a history of exploiting Africa’s resources and that they continue to do so today through unfair trade practices and economic policies.

Why Are African Countries Impoverished?

There are many factors that contribute to Africa’s poverty, including:

  • Colonialism: Africa was colonised by European powers for centuries, and this period of colonisation left a legacy of economic and political instability.
  • Corrupt governments: Many African governments are corrupt, and this corruption diverts resources away from development and into the pockets of a few elites. It is argued that external powers including corporations and countries support this corruption for their purposes, not for Africans.
  • War and conflict: Africa has been plagued by war and conflict for decades, and this has led to widespread displacement and poverty. Finding has in past been provided by external countries to instigate and perpetuate wars and conflicts for foreign powers benefits economically and politically.
  • Natural disasters: Africa is prone to natural disasters such as droughts, floods, and famines, which can have a devastating impact on the economy.
  • Lack of education and healthcare: Many Africans lack access to education and healthcare, which makes it difficult for them to escape poverty.

Why Would Africa Be a Place That Countries Like Great Britain, America, and France plus other European Nations Would Want to Control?

Africa is a continent with a wealth of natural resources, including oil, diamonds, and gold. These resources have been a major source of wealth for Western nations for centuries. In addition, Africa is a strategically important region, and Western nations have sought to control it for military economic and political reasons.

How Does France Control Africa?

France has a long history of involvement in Africa, and it continues to exert significant influence on the continent today. France has military bases in several African countries, and it provides financial and technical assistance to many African governments. France also has a number of economic interests in Africa, including oil and mineral extraction.

Is Africa Considered a Poor Country?

Africa is a continent with a wide range of economic development. Some African countries are very poor, while others have experienced significant economic growth in recent years. According to the World Bank, the average income in Africa is $1,210 per year. This is significantly lower than the average income in the developed world. The question remains – why are so many African countries rich in agriculture and raw valuable minerals so poor?

Conclusion

There is no doubt that Africa is a continent with a lot of challenges. However, there is also a lot of potential for growth and development. If Western nations were to change their policies and practices, they could help to lift Africa out of poverty and create a more prosperous future for all Africans. This maybe at the expense of western nations and could explain, at least in part, why Africans are still fighting to get out of poverty.

Join the debates on protecting and growing Africa economically.

 

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19th May 2022 – Egypt’s central bank raised its key interest rates by 200 basis points today.

Overnight lending rate has been increased to 12.25 percent from 10.25 percent.

10th May 2022 – International Monetary Fund IMF expects Africa’s economic growth to slow to 3.8 percent this year, down from last year’s 4.5 percent.

Sub-Saharan African countries find themselves facing another severe and exogenous shock. Russia’s invasion of Ukraine has prompted a surge in food and fuel prices that threatens the region’s economic outlook. The effects of the war will be deeply consequential, eroding standards of living and aggravating macroeconomic imbalances.

Inflation in the region is expected to remain elevated in 2022 and 2023 at 12.2 percent and 9.6 percent respectively—the first time since 2008 that regional average inflation will reach such high levels.

To navigate the trade-off between curbing inflation and supporting growth, central banks will need to monitor price developments carefully and raise interest rates if inflation expectations drift up. They must also guard against the financial stability risks posed by higher rates and maintain a credible policy framework underpinned by strong independence and clear communication.

Some countries in Africa, restoring debt sustainability will require debt re-profiling or an outright restructuring of their public debt. To make this a reality, the G20 Common Framework needs to better define its debt restructuring process and timeline, and the enforcement of the comparability of treatment among creditors. Importantly, debt service payments should be suspended until an agreement is reached.

28th April 2022 – The global food security crisis caused by Russia’s invasion of Ukraine has pressured African countries already managing risks of continuing COVID-19 pandemic, disrupted education of Africans, loss of income for average Africa and serious African debt problems

The head of the IMF’s Africa Department told Reuters news agency that food and fuel inflation is increasing hunger and starvation in Africa.

This is only set to get worse as the fight of energy provision is embedded in Russia Ukraine war and the war will impede food production globally. Some will pay more for food and others will starve as they cannot buy food. Others will fight for food escalating the risk of social unrest and riots.

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