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More from @David_McNair

david_mcnair

@David_McNair

Oct 27

@friendsofeurope

There’s a lot of debate this week about the UK’s role in the world. 🇬🇧

A new PM

Maybe a new trade deal with India.🇮🇳

A debate that started with #brexit of course

But what about the EU’s role in the world?

#StateofEU @friendsofeurope @africaeuropefdn

The EU is the world’s largest trading bloc. 🇪🇺

But in reality, it’s hemorrhaging influence in emerging markets and developing countries.

Why?

Partly because China, Russia, Turkey, and Gulf states have massively increased investments and military support.

#StateofEU

Russia, the largest supplier of weapons to Africa, now provides 44 percent of major arms to the region. sipri.org/sites/default/…

China committed about US$160 billion in infrastructure financing in Africa between 2000 and 2020. bu.edu/gdp/chinese-lo…

Read 20 tweets

david_mcnair

@David_McNair

Oct 10

This week the world’s finance chiefs gather in Washington DC.

Storm clouds are gathering.

What’s going on?

What will finance ministers do about it?

And what does it have to do with the Queen and a Pint of Guinness?

A🧵

Everyone is focused on inflation.

So, let’s focus on that first before getting into the broader economic outlook.

Headline inflation (based on a basket of consumer goods and services, including food and energy) is 8.3% in the US and 10% in the Eurozone.

But it’s much worse in emerging economies.

Inflation reached double digits in 17 sub-Saharan African countries, with nearly 9 in 10 countries in the region experiencing inflation rates above 5%.

Read 25 tweets

david_mcnair

@David_McNair

Sep 23

@WorldBank

There’s a lot of heat on the @WorldBank this week. We’ve been watching its performance during the pandemic, and here’s how it measures up.

A 🧵 cataloging its complacency…

1/

Early in the pandemic we urged the Bank to take swift action to address poor countries' economic distress.

The Bank was well-positioned to be a leader on this. They have an arsenal of tools, brilliant staff, and a vital role to play – and that the world continues to need.

2/

But let’s dive in.

Early in the pandemic, the Bank estimated that African countries would need $114bn in 2020, and that 39mn Africans could fall into poverty.

one.org/international/…

3/

Read 13 tweets

david_mcnair

@David_McNair

Sep 21

This week US President Biden said the #COVID19 pandemic is over.

He did so almost exactly a year since world leaders committed to ensuring 70% of the world’s population got vaccinated against #COVID19.

It failed dismally.

What went wrong?

First a bit of background:

At last year's UN week, Joe Biden gathered government leaders who recognized the gross inequities in vaccine distribution between rich and poor countries.

#UNGA #UNGA77

@ONECampaign

Activists like members of @ONECampaign @GlblCtzn and @PandemicAction were delighted that leaders were finally paying attention.

At the time about 60% of the population of rich countries had been fully vaccinated.

A shocking 1.4% of poor countries had.

Read 20 tweets

david_mcnair

@David_McNair

Sep 8

This week European leaders snubbed African Presidents who traveled to…Europe…for an important conference on adapting to climate change.

There are three reasons why this is an own goal for Europe.

A 🧵

@Cop27P

First a bit of background.

Six African Leaders traveled to Rotterdam for The African Adaptation Summit

Part of the preparation for the @Cop27P Climate Conference, to be hosted by Egypt in November.

gca.org/events/africa-… @GCAdaptation

The world’s 10 most climate-vulnerable countries are in Africa, accounting for over 150 million people - a third of the EU’s population.

Adapting is likely to cost $30-50bn a year by 2030.

Read 22 tweets

david_mcnair

@David_McNair

Jul 28

This week Russian Foreign Minister Sergei Lavrov toured Africa on a charm offensive.

But Western countries could be playing right into Russia’s hands.

Here’s how. A 🧵

Lavrov visited Egypt🇪🇬, the Republic of Congo 🇨🇩, Uganda 🇺🇬and Ethiopia 🇪🇹.

https://twitter.com/mfa_russia/status/1551339663889252356?s=20&t=IN8DnFYes643H7YaX8GpfA

The charm offensive was aimed at shoring up Russia’s friends in Africa.

Russia accounts for half of major arms exports to Africa. sipri.org/databases/arms…

But these sales have taken a hit following the Ukraine war.

foreignpolicy.com/2022/07/21/ukr…

Read 24 tweets

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