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SOMALILAND – A MAN IS COUNTING SCHILLINGS NOTES – ZEILA © A man is counting schillings notes, Awdal region, Zeila, Somaliland.

Cash-strapped Africa…

Cash-strapped Africa…

The majority of African nations are net food and energy importers. So when Russia invaded Ukraine, they got the short end of the stick as commodity prices rocketed. With such mounting financial pressures amid the ongoing war, large African economies, still recovering from the pandemic, are edging closer to defaulting. Both the IMF and the World Bank are calling for urgent reforms for 2023, in what they have labelled a ‘polycrisis’. How are different countries coping with the growing financial constraints?

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