Outcome of Russia-Africa Summit

re posted from                                  TASS

Outcome of Russia-Africa Summit

29 July 2023

African states still suffer from displays of colonialism – in economy, in particular, Russian President Vladimir Putin said during the plenary meeting of the Russia-Africa Summit. Meanwhile, Russia makes efforts to ease the debt burden of African nations.

The African leaders spoke about the importance of cooperation in security, food security included, while Russia shared its plans to increase its democratic presence on the continent.

Here are the key events and statements of the Summit.

Moscow writes off debts

Russia will allocate more than $90 mln for lowering the debt burden of African countries, with their indebtedness written off by Moscow totaling $23 bln.

According to Russian Ambassador at Large, head of the Russia-Africa Partnership Forum Secretariat Oleg Ozerov, African countries’ debt issues before Russia have currently been settled by 90%.

“There are some financial issues, but we are not talking about the direct debt. We are talking about certain financial agreements and obligations of sides,” he noted.

The West seeks to maintain its “dominant position in Africa, prevents reforms and exerts pressure, using the financial debt, which destroys the economy and increases poverty,” Libyan Presidential Council Chairman Mohamed al-Menfi said.

Colonialism heritage

Africa’s allies, including Russia, India and China could buy finished products from Africa instead of raw materials, resident of Uganda Yoweri Kaguta Museveni said.

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