Stock Groups

Blinken says U.S. investing in Africa without unsustainable debt -Breaking


© Reuters. Antony Blinken, U.S. Secretary of State speaks to members of civil society at U.S. Embassy Abuja (Nigeria), November 19, 2021. Andrew Harnik/Pool via REUTERS

By Bate Felix

DAKAR (Reuters – U.S. Secretary Antony Blinken stated Saturday that his country is investing in Africa and not imposing unsustainable debt levels. He witnessed contracts valued at more than $1Bn in Senegal’s capital Dakar.

These deals are part of the United States’ pitch to Africa for infrastructure development with sustainable and transparent deals.

While he was careful not to criticize Chinese infrastructure projects which have been proliferating over the last decade, Blinken stated during Friday’s visit to Nigeria that international agreements were often too opaque and coercive.

At the signing ceremony, he stated that the United States would invest “without saddle the country with any debt it cannot manage” during the meeting with Senegal’s Economy Minister Amadou HOTT.

He added that these deals will improve infrastructure, create new jobs, and strengthen public safety as well climate resilience.

After visiting Nigeria and Kenya, Blinken is now in Senegal. He has tried to strike a different tone than the Trump era, which disparaged certain African countries and banned travel from six.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, futures, indexes or Forex. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. Because prices might not reflect the market, they may be incorrect. This means that prices cannot be considered indicative and are inappropriate for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.