Wagner and its leader, Yevgeny Prigozhin, are already sanctioned by multiple countries around the world, mainly linked to the PMC’s operations as part of Russia’s invasion of Ukraine.
The United States State Department has claimed that Russian private mercenary force Wagner is attempting to acquire military equipment internationally and transit it through Mali for use in the war in Ukraine.
Wagner PMC-controlled firm Bois Rouge has rebranded itself as Wood International Group (WIG) while continuing its supply of African timber to the European Union (EU) through Cameroon.
The first investments are due to begin in six counties in sub-Saharan Africa in 2025.
World trade has been falling, but we still expect growth to return this year. We do notice large shifts in world trade as advanced economies – especially the US – are diversifying input sourcing.
Amid a downgrade to the IMF’s global growth forecast, EM sovereigns should remain resilient with areas of relative growth outperformance, easing pressure on commodity importers and fiscal reform momentum.
Food and energy prices surged to near historic highs in recent years amid the pandemic and the war in Ukraine, which prompted major supply disruptions. This was accompanied by a sharp rise in the volatility of commodity prices as well.
Putin took time out from meetings with Chinese President Xi Jinping who had just arrived in Moscow for a three-day state visit to speak to lawmakers from more than 40 African countries and woo them with generous promises of economic and military aid