JOHN J. STREMLAU|
LEADERS of the world’s seven advanced economies have once again pledged economic support for Africa and other developing countries.
But the realisation of these commitments depends on political developments in the Group of Seven (G7) countries, specifically the United States, the outcome of Russia’s war with Ukraine, and whether Russian president Vladimir Putin retains his grip on power.
How each of these political developments will pan out is difficult to tell. But each has an important bearing on the decisions African leaders must make in terms of which power blocs, if any, they align with.
The G7 is an informal group of advanced democracies that has been meeting annually since 1975. The impetus then was a global recession caused by an energy crisis.
There was also the desire among the US, UK, Germany and France to have Japan as full partner in meeting that crisis. Italy
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