What If Africa Stops Receiving Foreign Aid?

Download or read book What If Africa Stops Receiving Foreign Aid? written by and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic exacerbated poverty levels in Africa, with the number of people living in extreme poverty in sub-Saharan Africa projected to increase from 449 million (pre-Covid) to 478 million by 2022. The crisis also induced the continent's first economic recession in 25 years. Globally, the pandemic has generated multiple geostrategic uncertainties among nation states, and regional and international institutions. Policymakers in both donor and recipient countries are faced with the task of responding to the unpredictability of these developments, which may include reconsidering foreign policy priorities in the light of domestic imperatives. Addressing the possibility of declining investments and donor fatigue on the back of Covid-19, this Brief explores one key 'if' concerning the future of external support for Africa's development: 'what if, for the first time in more than 60 years, Africa stops receiving development assistance and foreign investments?' The first section of the Brief describes a tipping point in 2030 showing Africa's economic outlook in a future in which development aid and investments have been drastically reduced. The second section explains developments between 2021 and the tipping point in 2030, while the third section outlines the consequences in terms of Africa's development.