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Africa and Russia's war in Ukraine

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2019 Tutu Fellow Ronak Gopaldas has written a paper for the Centre for African Studies at Nanyang Technological University titled Africa walks a tightrope - Economic implications of the Russian invasion of Ukraine.  He begins by saying that Russian President Vladimir Putin’s decision to invade Ukraine has thrown global markets into disarray and threatens to derail what was an already fragile post-Covid global economic recovery. Beyond the global geopolitical and humanitarian implications his actions also have some serious ramifications for the global economy.  He continues by saying that the question for Africa is whether policymakers can tactfully navigate the crisis.

He says African countries stand to benefit enormously from surging commodity prices, but whether the windfall will be enough to stem the global currency, inflation and interest rate shocks will depend on their willingness to make bold political decisions.

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