AFRICA!

African economies have become more responsive to significant global trends as they have modernized
and globalized. Deglobalization, coordinated global fiscal and monetary tightening, environmental
change, and the resurgence of fierce superpower competition are only a few of the recent changes that
together provide significant challenges for the continent. As nations struggle with growing inflation, global
headwinds are limiting Africa’s economic growth and impeding efforts to reduce poverty. When it comes
to protecting people’s jobs, buying power, and development gains, African governments are being forced
to make challenging decisions due to high interest rates and debt. This raises the possibility of stagflation.