Even as African officials push for an extension of a key US-Africa trade agreement, it was announced this week that Uganda will lose duty-free access to the US from next year in response to the country’s anti-gay law. While not a major by itself, it adds to a list of developments that threaten to harm the country’s economic prospects. Meanwhile, German Chancellor Scholz’s recent visit to Nigeria and Ghana was another example of the trend of Western countries competing for energy, minerals and influence on the continent with China. Finally, South Africa’s Medium Term Budget Policy Statement, reaffirmed austerity, teased fiscal rules and talked up growth. Even so, the path to restore debt sustainability is increasingly narrow.
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