A growing wave of global instability linked to the Middle East conflict is weakening African currencies, raising import costs, and intensifying pressure on already fragile economies, according to a joint policy brief released by the African Development Bank, African Union Commission, United Nations Development Programme, and the United Nations Economic Commission for Africa.
The report, discussed on the sidelines of the 58th session of the Economic Commission for Africa in Tangier, warns that at least 29 African currencies have depreciated in recent months, increasing the cost of servicing external debt and importing essential goods such as food, fuel, and fertilizer.
It notes that global oil prices have surged by more than 50 percent as of late March, amplifying inflationary pressures across the continent. The institutions caution that the speed and intensity of the current shock leave African economies with limited time to adjust.
“Continued escalation of the conflict worsens global instability, with serious implications for energy markets, food security, and economic resilience,” said Mahmoud Ali Youssouf.
Fertilizer Disruptions Raise Food Security Risks
According to the brief, disruptions to Gulf energy supplies are constraining access to key agricultural inputs such as ammonia and urea during the critical March–May planting season. This could reduce agricultural output and heighten the risk of food insecurity, particularly in import-dependent economies.
“The current shocks are transmitting faster and through more concentrated channels than past global disruptions,” the report states, warning that the effects are already filtering through to households and businesses.
Claver Gatete said the situation underscores the urgency for Africa to reduce its exposure to external shocks and build stronger internal resilience.
“This moment calls for decisive action, to protect people now, but also to accelerate Africa’s long-term push towards energy security, food sovereignty, and financial self-reliance,” he said.
Three-Phase Response Proposed
The institutions outline a three-pronged strategy to help African economies navigate the crisis.
In the immediate term, the report calls for measures to cushion households and stabilize access to fuel, food, and fertilizers, with support from development partners and the private sector.
Over the medium term, it recommends strengthening energy security, expanding targeted social protection, and deepening regional trade under the African Continental Free Trade Area.
Long-term proposals focus on structural reforms, including stronger domestic resource mobilization and the development of African financial safety mechanisms to reduce dependence on external financing.
“This moment demands leadership, within Africa and from its partners,” said Ahunna Eziakonwa, noting that the right policy mix could help the continent emerge stronger.
From Crisis Management to Resilience
The report ultimately frames the current situation as a turning point for the continent, urging a shift from reactive crisis management to long-term resilience building.
Sidi Ould Tah said coordinated action will be critical to both cushion short-term shocks and lay the foundation for sustained economic stability.
By strengthening regional integration, accelerating African-led financial solutions, and investing in energy and food systems, the institutions argue that Africa can move from vulnerability toward greater preparedness in an increasingly uncertain global environment.
