The most prominent economic developments and trends (during the period 16-31 July 2022)


It has been witnessed recently that the American positions tends  to increase the American presence on the African continent during the coming period, led by the announcement by US President "Joe Biden" on July 20, 2022, that he will host African leaders in Washington during the period 13/15 December 2022, to attend the American Summit/ He also indicated his aspiration to work with African governments, civil society, the US diaspora, and the private sector to further advance a shared vision for the future of US-Africa relations.

In the same context, Alice Albright, head of the Millennium Challenge Corporation (a US government development agency), confirmed on the sidelines of her participation in the 14th US-Africa Business Summit that was held in Morocco on July 20/22, 2022, that the United States will invest billions of dollars in Africa. In cooperation with the private sector to develop the continent economically, by promoting trade and investments to create job opportunities, and achieving comprehensive and sustainable economic growth throughout the continent.

The US position towards Africa comes in line with what was approved by the G7  summit held in late June 2022, which announced its quest to mobilize $600 billion until 2027 to support the “Partnership for Global Infrastructure and Investment” initiative, which aims to support developing and poor countries, as well as Washington aims at trying to obstruct the expansion of unfriendly countries - as it describes them - such as Russia, China and Iran, hoping that this move will encourage its European allies to increase their presence in the continent, in addition to trying to maximize the benefit from the capabilities and natural resources that the countries of the continent abound in, especially in The field of energy and its uses, especially green energy.

To Read the full article in Arabic please visit: