[USMCA Forward 2024 viewpoint title]

An analysis of sub-Saharan Africa’s (SSA) challenging economic situation confirms the following: There is no silver bullet for recovery; it is a long road ahead. But the good news is we have walked this path before and know the way. In these times of economic challenge, promptness and clarity of decisions will shorten the road to recovery and build confidence, which is essential. Economic problems do not age well, and the damage is compounded when allowed to fester.

Increased inflation in SSA, doubling in certain countries, is significantly fueled by rising food prices caused by insecurity, climate change, and supply chain disruptions from the Russia-Ukraine war. Policymakers, while executing contractionary anti-inflation campaigns, must provide incentives for increased domestic food production, agroprocessing, and value chain interventions, as well as storage facilities. Producing and processing what we eat has direct economic impact and secures the lives of an estimated 140 million food-insecure Africans. Furthermore, harnessing the power and ingenuity of the youth for agriculture will address increasing unemployment in the region.