AP

Treasury Secretary Janet Yellen to visit sub-Saharan Africa

Dec 16, 2022, 12:47 PM | Updated: 12:51 pm

WASHINGTON (AP) — Treasury Secretary Janet Yellen will travel in January to South Africa, Zambia, and Senegal, her office announced Friday, in what will be the first of a string of Biden administration official visits to sub-Saharan Africa next year.

The world’s second-largest continent is crucial to the global economy due to its rapidly growing population and significant natural resources. China’s deepening economic entrenchment in African nations, surpassing the U.S. in trade with Africa to become one of the world’s largest creditors, is also a motivator for the U.S. to deepen ties with African nations.

President Joe Biden on Thursday announced during a U.S. summit with African leaders that he plans to make a trip to the region next year, as do Vice President Kamala Harris, first lady Jill Biden and a number of Cabinet secretaries.

Yellen, who will visit Africa from Jan. 17-28, has spoken at length publicly about China’s financing practices on the continent, calling them ” economic practices that have disadvantaged all of us.”

Zambia, for instance, is renegotiating its nearly $6 billion debt with China, its biggest creditor. During a closed-door meeting with Zambian President Hakainde Hichilema at the Africa Leaders Summit on Thursday, Yellen said they discussed “the need to address debt sustainability and the imperative to conclude a debt treatment for Zambia.”

Treasury said Yellen will also discuss the spillover effects of Russia’s invasion of Ukraine on Africa’s food supply. Other topics will include how the U.S. is working with African leaders to promote an energy transition that factors in the impacts of climate change in Africa and how to prepare for future pandemics through the Pandemic Fund announced in June.

At the summit this week, Biden announced plans to spend $2 billion to help bolster food security on the continent.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Colorado River settlement center of new Navajo Nation push...

Associated Press

Tribes say their future is at stake as they push for Congress to consider Colorado River settlement

Navajo officials are celebrating the signing of legislation outlining a proposed Colorado River settlement that would ensure water rights.

3 days ago

Arizona doctors California abortions...

Associated Press

Arizona doctors can come to California to perform abortions under new law signed by Gov. Newsom

Arizona doctors can temporarily come to California to perform abortions for their patients under a new law signed by Gov. Gavin Newsom.

4 days ago

Father convicted of first-degree murder in northern Arizona...

Associated Press

Arizona man convicted of first-degree murder in starvation death of 6-year-old son

A northern Arizona father was convicted of first-degree murder Thursday in the 2020 starvation death of his 6-year-old son.

4 days ago

Former President Donald Trump sits in a courtroom next to his lawyer Todd Blanche before the start ...

Associated Press

Trump hush money trial enters new phase after defense rests without testimony from former president

Donald Trump's hush money trial is now closer to the moment when the jury will begin deciding the former president's fate.

6 days ago

UoA student convicted of first-degree murder after killing professor...

Associated Press

Former Arizona grad student convicted of first-degree murder in 2022 shooting of professor

A former University of Arizona grad student was convicted of first-degree murder after fatally shooting a professor on campus two years ago.

6 days ago

Rudy Giuliani bankruptcy filing defamation lawsuit...

Associated Press

Ex-NYC Mayor Rudy Giuliani, Arizona’s Kelli Ward plead not guilty in fake elector case

Giuliani appeared remotely for the arraignment that was held in a Phoenix courtroom. His trial will take place in October.

7 days ago

Sponsored Articles

...

COLLINS COMFORT MASTERS

Here are 5 things Arizona residents need to know about their HVAC system

It's warming back up in the Valley, which means it's time to think about your air conditioning system's preparedness for summer.

...

Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.

...

Day & Night Air Conditioning, Heating and Plumbing

Day & Night is looking for the oldest AC in the Valley

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.

Treasury Secretary Janet Yellen to visit sub-Saharan Africa