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Right words. But poor facts.

December 1, 2017
Yesterday, the two-day summit in Côte d’Ivoire wrapped up. When you read and listen to all declarations, interviews and comments about this event, you can feel quite satisfied on the one hand, but completely disappointed on the other one.
Mr. Tajani stated: «about these subjects (migrations, terrorism, climate change, development and employment) we must do something immediately, before it’s too late. We must face the demographic explosion…» and he went on listing all figures about demographic growth. And we agree with him on this matter. A continent which is going to explode because of its demographic growth, its poverty, with neither a suitable growth nor a skilled political class, is risking imploding and throwing unstoppable migrations and new terrorisms on Europe.
And as Mr. Tajani is supported by Mr Macron, Mr Gentiloni and Mrs Merkel, we can say that the governing European class has perfectly understood the emergency.
But looking at the money they have put on the partnership’s table, you can’t be but astonished.
We are talking about a great amount of money, and this is a fact. But this money is not enough, as Africa needs more investments. And it needs money being spent in the right way.
I will start from precise data, so that it is clear: talking about GDPs, “little” Europe is worth 20,000 billion dollars, while all Africa is worth 2,200 billion dollars, that means 10% of Europe and 3% of world’s GDP.
Today the world helps Africa with 60 billion each year, and EU invests almost 4 billion euros in it.
From 2021 (three years are so many for Africa, which will have 130 million new-born babies) to 2027 they should invest 40 billion. 15 of these of private investments and 25 of new resources. But in a seven-year time. Let’s say that there will be 6 billion dollars a year and that this money will give an input to private investments, which could reach hundreds of dollars.
But now, this means only a 50% increase compared to present investments.
Even if this money was spent in the best possible way and it didn’t end up in few oligarchs’ hands, it would be not enough to make Africa grow. And, anyway, this is not a “Marshall Plan”.
In financial terms, Africa would need very different things.
This seems to be a poor attempt to show that they understand the situation, but that they can’t create suitable instruments to seriously face it and to efficiently solve it.
Anyway, we must admit that everyone proved to know the problem and to understand that there is an emergency.
Yet, this is a step forward.
About migration… we are going to talk about it soon.

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