Browsing: Africa Russia-Ukraine conflict

• Drought and bad weather in Russia have left the country staring at record-low production. This is bad news for key importers including countries in East Africa.
• Russian wheat crop is expected to fall to an 11-year low this season.
• Prices of wheat are expected to rise even higher globally.

The worsening numbers of Russia wheat production are hitting the headlines in East Africa as the region braces for higher consumer prices in 2025. A dip in Russia wheat output poses huge risk to East Africa, a market that heavily relies on imports to plug its own production gaps.

For farmers in Russia, bad weather, is projected to cut their output of the key ingredient that makes a variety of foods for millions in East Africa. As a result, economists project that prices for wheat in East Africa—a key importer of Russian wheat—will soar in the coming months.

In a report …

• Through Sustainable Debt Coalition, leaders in Africa seek to address critical financing challenges faced by emerging markets and developing economies.
• They are placing particular focus on fresh financing model to address climate action and unique development needs in Africa. 
• Sustainable Debt Coalition introduces a fresh consultation pathway that intersects debt, climate, and developmental concerns, fostering dialogue for innovative solutions. 

There is an urgent need to adopt global financial reforms to help avert economic, environmental and social downturns, leaders from developing countries have urged, adding that this will work to achieve Sustainable Development Goals.

The Sustainable Debt Coalition

“Predictable, affordable and sustainable financing is critical to allowing African countries to get back on track to achieve the Sustainable Development Goals,” Economic Commission for Africa (ECA) Acting Executive Secretary, Antonio Pedro, said.

Antonio gave a speech at the Sustainable Debt Coalition meeting that was held in Paris in conjunction with the Summit …