Our most downloaded publication of 2024 shines a light on a critical issue: 𝘁𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗥𝘂𝘀𝘀𝗶𝗮-𝗨𝗸𝗿𝗮𝗶𝗻𝗲 𝘄𝗮𝗿 𝗼𝗻 𝗔𝗳𝗿𝗶𝗰𝗮. 🌍 The report finds the whilst direct trade with Russia and Ukraine is limited, Africa's reliance on these nations for essential food and fertiliser imports has created significant vulnerabilities. This, coupled with the lingering effects of the Covid-19 pandemic, has exacerbated poverty and food insecurity across the continent, leaving millions struggling for basic necessities. The conflict's disruption of trade routes has also sent food and fuel prices soaring – with the latter doubling in some countries. We identified five policy priorities for African governments to navigate these challenges and build resilience: 🎯 Tailor short- and long-term policies in response to country-specific war impacts. 🛡 Strengthen social safety nets for those hit hardest. 💰 Implement proactive monetary policies to curb financial spillovers. 🧺 Boost local agricultural and fertiliser production. 🌍 Promote trade diversification for key imports. The international community also has a vital role to play in supporting regional resilience initiatives. The report was produced in collaboration with the African Economic Research Consortium (AERC), PEP - Partnership for Economic Policy (PEP) and the Economic Research Forum (ERF), and with support from the International Development Research Centre (IDRC). Download it here: https://lnkd.in/eDBJNMSV
