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Rabah Arezki on Muck Rack

Rabah Arezki

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Articles

Africa’s Energy Curse Is a Political Choice

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By Rabah Arezki
| Project Syndicate Verified
It is no secret why African countries with large fossil-fuel reserves nonetheless have failed to reduce extreme poverty or provide reliable electricity to all households. Those in power have made a conscious choice to privilege hard-currency export revenues, some of which then finance elite consumption rather than public investment. LIBREVILLE/LOS ANGELES—Africa is facing one of the world’s great energy windfalls.
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Africa’s Financial Third Way

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By Rabah Arezki
| Foreign Policy Magazine Verified
For decades, the promise of development finance in Africa rested on a simple bargain: that capital from wealthy countries, channeled through aid budgets, multilateral banks, and private investors would unlock the continent’s economic potential. The formula shifted, but the underlying assumption held that external finance would lead, and Africa would follow. That promise is now unraveling.
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Africa’s Energy Curse Is a Political Choice

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By Rabah Arezki
| QOSHE
LIBREVILLE/LOS ANGELES—Africa is facing one of the world’s great energy windfalls. The continent holds roughly 125 billion barrels of confirmed oil reserves and more than 620 trillion cubic feet of natural gas, implying vast additional deposits still waiting to be discovered. At the same time, some 600 million Africans have no electricity at home, and this figure has not fallen since the COVID-19 pandemic. On current trends, it will still exceed a half-billion in 2030.
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