Wednesday, May 22, 2024

US Treasury Secretary Janet Yellen arrives in Zambia next week

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U.S. Treasury Secretary Janet Yellen will travel to Zambia, Senegal and South Africa during the next two weeks, as the United States aims to strengthen ties with a continent that has been the focus of Chinese trade and investment for years.

While in Africa, Secretary Yellen will highlight the Biden-Harris Administration’s work to deepen U.S.-Africa economic ties, including by expanding trade and investment flows and promoting sustainable and inclusive economic growth.

This follows the U.S.-Africa Leaders Summit held last month in Washington, DC, where President Biden announced over $15 billion in two-way trade and investment commitments, deals, and partnerships.

Secretary Yellen will discuss the ways that the United States is working with African leaders to build a stronger and more resilient economy on the continent that benefits their citizens, the U.S., and the entire world.

That includes by funding high quality infrastructure investments through the Partnership for Global Infrastructure Investment, preventing and preparing for future pandemics through the new Pandemic Fund, partnering to strengthen democracies and institutions against corruption, and helping African countries address debt vulnerabilities.

While in Africa, the Secretary will also underscore the importance of accelerating clean energy access, helping countries adapt to a changing climate, promoting a just energy transition and providing greater economic opportunity for communities and businesses.

During her engagements, Yellen will urge further action to evolve the multilateral development banks to better address global challenges like climate change, health and pandemics, and conflict and fragility, complementing these institutions’ work on poverty reduction and inclusive and sustainable economic growth.

During her travel, the Secretary will also underscore the spillover effects of Russia’s illegal war in Ukraine, which have disproportionately hurt developing countries in Africa and globally.

The Secretary will note the steps the U.S. has taken to boost food security, including through over $13.5 billion in assistance, a call for international financial institutions to develop and implement an Action Plan to Address Food Insecurity and new support to the International Fund for Agricultural Development and the Global Agriculture and Food Security Program.

Given the continued urgency to strengthen both short-term and long-term food security, the Secretary will also discuss implementation of the U.S. – Africa Strategic Partnership on Food Security launched at the African Leaders Summit.

Secretary Yellen will also highlight work to address high energy costs by promoting market stability, including through the price cap on Russian oil.

On January 22, Secretary Yellen will travel to Lusaka and she will visit a community health site where she will participate in a tour to highlight joint efforts to advance global health.

Later, Secretary Yellen will visit Mylan Lab’s Lusaka distribution center.

Mylan Labs is a U.S. firm that employs 75 workers at this facility helping to distribute anti-malarial and anti-retroviral treatments.

Secretary Yellen will tour the facility and highlight U.S. – Africa joint efforts to promote a healthy population, improve global health security, and collaborate to prevent and prepare for future pandemics.

Secretary Yellen will then participate in a lunch with business leaders from the American Chamber of Commerce in Zambia, including a spray at the top of lunch.

After lunch, Secretary Yellen will participate in bilateral meeting with the President of Zambia Hakainde Hichilema; Minister of Finance Situmbeko Musokotwane; and the Governor of the Bank of Zambia, Denny H. Kalyalya.

Bilateral meetings with the President and Finance Minister will have photo sprays and brief remarks at the top for pre-approved media.

On January 24, Secretary Yellen will tour two agricultural-related sites in Zambia.

During her visit, the Secretary will deliver remarks highlighting the work the Treasury Department and the U.S. government are engaged in to promote climate-resilient agriculture and food production, as well as to mitigate the global spillover effects of Russia’s illegal war in Ukraine.

In the evening, Secretary Yellen will travel to Pretoria, South Africa.

18 COMMENTS

  1. Scramble for Africa reloaded now dealing with the corrupt and clueless Bidden-Harris administration…. coming to loot all our natural resources.

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    • Grant Kolala – Unfortnately they are 10 years late the Chinese already got there and signed deals…this is why US is forcing China to renegotiate those debts and the Chinese are not showing their hand. Old Joe and Harris can easily instruct puppet leaders like our President but the Chinese are the main creditors and can pull the rag anytime!!

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  2. FIRST IMF LEADERS NOW THESE HMMM WHATS GOING ON? YOU CANNOT TRUST THESE PEOPLE. THEIR AGENDA IS TO LOOT AND KEEP AFRICA POOR.

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  3. Why did the U.S. Treasury Secretary never set foot in Zambia during the sustained 10yrs of downward PF economic stats? That should tell you something.

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    • I don’t think you’ve ever been to America to know how the likes of you are treated over there. Your uncle Tom mentality is loathed by the people who experience crimes of humanity in their own country,

    • FutureZed

      Would they, the likes of me , rather relocate to Africa ?

      Even you , calling me an uncle Tom, have no shame to be communicating in uncle Tom’s language instead of your own.

      Shameless hypocrite.

  4. Impressive leadership and thanks to President HH for the mobilisation and the US government for continued support on strategic investment for Zambia and Africa

  5. Africa is being recolonised. Wake up Africa. The west is after our natural resources. IS THERE A LIGHT AT THE END OF THE TUNNEL FOR ZAMBIA

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