Africa Economic Resilience Recommendations

The African Development Bank, African Union, United Nations Development Programme, and International — United Nations Economic Commission for Africa have outlined practical recommendations for crisis responses and resilience building in Africa. This initiative comes amid rising global economic volatility and spikes in energy, food, and fertilizer prices, largely attributed to the ongoing conflict in the Middle East. The report highlights that these shocks are rapidly affecting African economies, leading to a more than 50% surge in global Petroleum prices and the weakening of twenty-nine African currencies. Key figures like Mahamoud Ali Youssouf, Claver Gatete, Ahunna Eziakonwa, and Sidi Ould Tah emphasized the urgency for coordinated action, focusing on immediate crisis response, medium-term reforms for energy security and social protection, and long-term structural reforms for financial self-reliance. The discussions took place on the margins of the 58th Session of the Economic Commission for Africa in Morocco — Tangier.