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Musings From Abroad

African Union is now a permanent member of G20. What this means

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Indian Prime Minister, Narendra Modi on Saturday morning announced that the African Union was now a permanent member of the G20.

In his opening remarks at the summit, Modi urged the African Union (AU), represented by its chairperson Azali Assoumani, to join the G20 as a permanent member.

The G20 is the top international economic cooperation forum. Twenty of the biggest economies in the world came together to form the group in 1999 and it meets annually to coordinate international trade, health, and other policies.

“Honoured to welcome the African Union as a permanent member of the G20 Family. This will strengthen the G20 and also strengthen the voice of the Global South,” said a message on Modi’s official account on social media platform X, formerly known as Twitter.

Decisions will also be made about expanding the multilateral bloc’s lending to developing countries, changing the structure of the global debt system, regulating cryptocurrencies, and the effect of geopolitics on the security of food and energy.

Bilateral meetings at the G20 summit have occasionally led to major international agreements. Its framework under which bilateral official creditors during a limited period suspend debt service payments from the poorest countries on request has been a treasured window for many African countries like Ghana, Zambia, and Ethiopia, among others, that have defaulted on their debt payment and sought restructuring.

The continent would hope that a permanent seat at the elite level of the G20 would influence better economic cooperation in favour of the AU member states, particularly with G20 host India, which is Africa’s third-largest trade partner.

India holds the Presidency of the G20 from 1 December 2022 to 30 November 2023.

The COVID-19 pandemic, the 2008 financial crisis, the Iranian nuclear programme, and the Syrian civil war were all topics of previous summits.

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Musings From Abroad

Swiss company Mercuria partners Zambia’s IDC in new metals trading firm

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According to a statement released by Swiss commodities trader, Mercuria, on Thursday, it has established a metals trading arm with Zambia, the second-largest producer of copper in Africa.

The trading unit is jointly owned by Mercuria and an arm of Zambia’s Industrial Development Company (IDC), and its purpose is to allow Zambia to engage directly in the minerals trading market.

The joint venture “envisages the establishment of a vehicle to market and trade Zambian copper by mutual leverage,” according to a statement from Cornwell Muleya, the CEO of IDC.

The southern African nation wants to increase copper output to roughly 3 million metric tonnes within the next ten years, and in 2023, it produced roughly 698,000 tonnes of copper, down from 763,000 metric tonnes the year before.

In June, the Zambian government announced that it would establish a minerals trading unit.

Investors including First Quantum Minerals and Barrick Gold are ramping up production, with output set to receive a further boost once Vedanta Resources’ Konkola Copper Mines restart activity.

“Our joint venture with IDC marks a significant milestone for Zambia as it positions itself more strategically in the global minerals market,” Kostas Bintas, Mercuria’s global head of metals and minerals, said in the statement.

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Musings From Abroad

Blinken to reveal UN Sudan funding additions

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Additional financing for humanitarian aid to Sudan and initiatives to strengthen civil society in the nation, where a conflict has killed tens of thousands of people and displaced millions, will be announced by U.S. Secretary of State Antony Blinken at the United Nations on Thursday.

Blinken will make many announcements when he leads a UN Security Council meeting on Sudan on Thursday, which will centre on humanitarian aid and civilian protection, Deputy U.S. Representative to the UN Ned Price told reporters on Wednesday.

According to Price, the announcements would include more money for humanitarian help, initiatives to strengthen civil society, and the return of democracy.

“Sudan, unfortunately, has risked becoming a forgotten conflict,” Price said.

“So part of the reason the secretary … opted to convene a signature event on this very topic is to make sure it remains in the spotlight,” Price said.

For almost 18 months, the paramilitary Rapid Support Forces and Sudan’s army have been engaged in combat, resulting in a severe humanitarian crisis that has forced over 12 million people from their homes and made it difficult for U.N. organisations to provide aid.

A power struggle between the RSF and the Sudanese Armed Forces preceded a planned shift to civilian administration, which sparked the conflict in April 2023.

Although the army declined to join this year’s U.S.-mediated peace negotiations in Geneva, the warring parties did pledge to increase assistance access, which prevented any movement towards a ceasefire.

Price stated that before President Joe Biden’s term ends next month, the United States would keep collaborating with allies to enhance humanitarian access in Sudan and eventually end hostilities.

“We are going to leave nothing on the field in our efforts to work with allies, with partners, with the Sudanese stakeholders themselves, on the issues that matter most – humanitarian access, the provision of humanitarian assistance, ultimately, the process by which we can work to get to a cessation of hostilities, which is most urgently needed,” he said.

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