Putin Accuses West Of Pushing Africa Into Debt Trap
Russian President Vladimir Putin has accused Western countries of using debt, economic sanctions and trade conditions to restrict Africa’s development.
Speaking at the third Russia-Africa Summit in Moscow, Putin told African leaders that Western countries were attempting to push the continent back into debt dependence by imposing harsh conditions on financial assistance.
Delegations from 48 African countries are attending the two-day gathering where discussions include trade, investment, security, agriculture, technology and other areas of cooperation.
Putin’s address placed debt sustainability, industrialisation and economic sovereignty at the centre of the discussions, as African governments continue to seek financing for development while managing debt obligations and pursuing greater regional economic integration.
He said “active attempts” were being made by Western countries to force African nations to accept essential financial resources on exploitative terms, leaving them to repay debts at the expense of their development plans.
“When they managed to enrich themselves at the expense of others, they are resorting to things such as illegitimate sanctions, tariff wars, blackmail, and interference in the domestic affairs of others. They are also trying to run the Africans back into the debt abyss.
“They are trying to impose resources on them, but on terrible terms, which are tantamount to robbery. And the African countries have to repay these debts to the detriment of developmental plans,” he said.
The Russian president also criticised tariff wars, sanctions and economic pressure, arguing that such measures were being used to maintain external influence over African economies.
He noted that manufacturing accounts for less than two per cent of Africa’s value addition, while only about 15 per cent of the continent’s estimated 1.5 trillion dollars in annual trade takes place between African countries.
He pointed to the African Continental Free Trade Area as an important mechanism for increasing regional trade, strengthening industrial cooperation and advancing economic independence.
“Right now, the added value in manufacturing of Africa stands at less than 2 per cent, whereas the overall trade of African countries amounts to $1.5 trillion U.S. dollars. And just 15 per cent is accounted for by the transactions within the African continent.
“And yet the situation is shifting thanks to the success of the AfCFTA. A contribution is made to production and cooperation in industry to gain economic independence,” he stated.
He added that Russia was ready to share technological expertise, support infrastructure projects and expand agricultural cooperation with African countries.
Putin said Russia had supplied approximately 13 million tonnes of agricultural products to Africa in the first nine months of 2026, while more than 40 African countries received Russian grain and fertilisers.
“Russia is helping improve the debt situation in Africa. We have a number of joint programmes with a number of African countries. And these programmes are meant to lend money to finance growth,” he said.
He also called for Africa to have a stronger voice in international financial institutions, including the International Monetary Fund and the World Bank, arguing that their decision-making structures should better reflect the interests of developing economies.
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