Question 1

Which new member states joined the BRICS bloc in January 2024, significantly altering its economic and geopolitical landscape?

Accepted Answer

Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates

Question 2

The African Continental Free Trade Area (AfCFTA) aims to boost intra-African trade. Which of the following is a primary challenge hindering its full implementation?

Accepted Answer

Lack of private sector participation and access to finance

Question 3

In the context of African sovereign debt restructuring, what is the primary aim of the G20's Common Framework?

Accepted Answer

To coordinate debt relief for low-income countries, including African nations

Question 4

Which economic agreement between the European Union and an African nation entered into force on July 1, 2024, offering duty-free, quota-free market access for the African country's exports?

Accepted Answer

The EU-Kenya Economic Partnership Agreement

Question 5

Remittances from the African diaspora are a significant financial inflow. According to recent estimates, how much did remittances to Africa exceed in 2024, significantly surpassing foreign aid and official development assistance?

Accepted Answer

Over $100 billion

Question 6

The Pan-African Payment and Settlement System (PAPSS) is a key initiative for intra-African trade. What is its main objective?

Accepted Answer

To facilitate payment transactions across Africa using local currencies

Question 7

China has become Africa's largest trading partner. Which policy has China implemented to boost trade with African nations, including extending zero-tariff treatment to 53 African countries?

Accepted Answer

Negotiating innovative free trade agreements and expanding tariff-free lines

Question 8

The African Development Bank (AfDB) has a ten-year strategy (2024-2033) focusing on several development priorities. Which sector is emphasized to be at the heart of the AfDB's work by 2033?

Accepted Answer

Private sector operations

Question 9

The IMF approved a significant allocation of Special Drawing Rights (SDRs) in 2021. What was the total amount allocated, and what portion approximately reached the African continent under the standard distribution rules?

Accepted Answer

$650 billion total, with Africa receiving about $33 billion

Question 10

In the context of cross-border payments in Africa, what is identified as a major structural problem hindering seamless transactions across the continent?

Accepted Answer

Fragmented banking systems, regulatory disparities, and limited interoperability

Africa's New Financial Frontiers: BRICS Expansion, AfCFTA Trade, and Cross-Border Dynamics Exposed

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