Janet Yellen, the United States’ Treasury Secretary, will begin her tour to Africa on Friday, stopping in Senegal, Zambia, and South Africa. Yellen’s travel follows China’s Foreign Minister Qin Gang’s five-country African tour last week.
Janet Yellen Louise is an American economist who has been the 78th Secretary of the Treasury of the United States since January 26, 2021. She previously served as the Federal Reserve’s 15th chair from 2014 to 2018. She is the first person to hold those posts, as well as the first woman to lead the White House Council of Economic Advisers.
She is anticipated to underline President Joe Biden’s commitment to the region and give African governments and businesses an alternate source of investment to that of China during her visit to Senegal this Friday.
Many people are suspicious about the terms of many of Beijing’s loans, while the US has yet to satisfy many of its own multibillion-dollar pledges, especially those on climate change mitigation.
Meanwhile, President Biden, Vice President Kamala Harris, U.S. Trade Representative Katherine Tai, and Commerce Secretary Gina Raimondo, as well as Yellen’s deputy, Wally Adeyemo, will all visit Africa this year.