The Economic Implications of the War in Ukraine for Africa and Morocco

The Russian-Ukrainian war will have major economic and political repercussions. In this note, we focus on the war’s economic short and long term implications on the African economy. This conflict comes at very arduous context, where Africa is still struggling to set its economy on the recovery path, amid global inflationary pressures and highly uncertain context. While natural resources countries, especially energy exporters, are sensing opportunities from the crisis, other countries such as Morocco, will be hardly hit by a double whammy of soaring energy and food prices. This will add to their external imbalances and concerns about inflation persistence and the path of their public debt.