Russian President Vladimir Putin has warned African countries against falling into what h…
Russian President Vladimir Putin has warned African countries against falling into what he described as a debt abyss, accusing some foreign powers of using economic pressure and unfavourable lending terms to undermine the continent’s sovereignty and development. Addressing the Russia–Africa Economic and Humanitarian Forum in Moscow, Putin argued that mounting debt obligations risk forcing African governments to divert resources away from development priorities, leaving countries struggling to finance infrastructure, industry and essential services calling it robbery. Putin said some countries were resorting to sanctions, tariff wars, economic pressure and interference in domestic affairs, while imposing resource agreements on African nations under terms he described as exploitative. The Russian leader linked the debt burden to Africa’s continued dependence on exporting raw materials, pointing to the continent’s limited manufacturing capacity despite its vast natural resources. According to figures presented in his address, manufacturing value added in Africa accounts for less than 2%, while the continent’s overall trade stands at approximately US$1.5 trillion. Only 15% of that trade takes place between African countries, pointing out the challenges facing intra-African commerce and regional industrialisation. Celma Ndhikwa #NBCNews #nbcdigitalnews #nbcDSTV282 #nbcGOTv20 #nbcPlusApp
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