Yellen is on a three-country trip to Africa that aims to show the continent that the US is a partner in it for the long-haul
US treasury secretary Janet Yellen. Picture: SHELBY TAUBER/REUTERS
But after decades of losing ground to China and the tumult of the Donald Trump years, when the former president threatened to slash aid and roll back military support, it is a tough sell. African officials have broadly welcomed the US’s renewed engagement. But the timing, two years into Biden's four-year term, is viewed by many as “late and somewhat halfhearted”, said Chris Ogunmodede, a Nigerian researcher and associate editor of World Politics Review.
In Senegal, Yellen warned Africa against “shiny deals that may be opaque and ultimately fail to actually benefit the people” and has accused China of dragging its feet on a critical debt restructuring in Zambia.African countries have become collateral victims of the rate hikes by the US Federal Reserve, aimed at curbing inflation in the US.
The US, meanwhile, has largely failed to offer viable alternatives to cheap Chinese credit, officials said.
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