Senior U.S. Official Warns African Governments About Relying on “Fast and Loose Money” 

The United States Assistant Secretary of State for the Bureau of Energy Resources, Francis Fannon, spoke Tuesday at the Africa Oil Week conference currently underway in Cape Town, South Africa. Image via AOW.

The top energy diplomat for the United States, Francis Fannon, issued a clear warning to African governments to avoid taking oil and gas investments from “opaque forces” that could lead to erosion of their countries’ sovereignty through debt-dependency.

He didn’t mention China by name in his speech at the Africa Oil Week (AOW) conference that’s taking place in Cape Town, but he didn’t really have to given that he resurfaced well-established Washington talking points on the risks posed to African governments who take on too much Chinese debt.

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by Eric Olander

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