Regional Security

Backgrounder

The African Union

Author: Stephanie Hanson

The African Union succeeded the old Organization for African Unity (OAU) in 2002. Since then, the new institution has struggled to reform governing bodies inherited from the OAU while shouldering challenging new peacekeeping missions.

See more in Africa (sub-Saharan); Regional Security

Primary Sources

European Union: Joint Declaration of the Prague Eastern Partnership Summit

The European Union initiated political, economic, and security discussions with post-Soviet Union states: Armenia, Azerbaijan, Belarus, Georgia, Moldova, and Ukraine. At a conference in Prague on May 7, 2009, the joint declaration describes these negotiations and their association agreements. EU has signed agreements with Ukraine and Georgia. Russia has initiated its own negotiations with Ukraine and Georgia separatist regions.

See more in EU; Regional Security; Trade

Other Report

GCC Sovereign Funds: Reversal of Fortune

Authors: Brad W. Setser and Rachel Ziemba

For several years, high oil prices enabled the Gulf Cooperation Council countries to add large sums to their state coffers. Falling oil prices imply that some Gulf countries may need to draw on their depleted funds to cover their import bills. In this Center for Geoeconomic Studies Working Paper, Brad W. Setser and Rachel Ziemba examine the impact of the fall in global equities on the Gulf’s large funds and explore how various oil price scenarios could shape those funds’ future growth.

See more in Regional Security; Middle East and North Africa; Sovereign Wealth Funds

Primary Sources

Report on the Implementation of the European Security Strategy: “Providing Security in a Changing World”

The EU introduction to this report states: “The European Council adopted the European Security Strategy (ESS) in December 2003. For the first time, it established principles and set clear objectives for advancing the EU's security interests based on our core values. It is comprehensive in its approach and remains fully relevant. This report does not replace the ESS, but reinforces it. It gives an opportunity to examine how we have fared in practice, and what can be done to improve implementation.”

Additional EU security strategies were released in 2010 and in 2015.

See more in EU; Regional Security

Backgrounder

Leading Africa

Author: Stephanie Hanson

With South Africa, Nigeria, and Kenya all hobbled by varying degrees of instability and infighting, experts fear Africa lacks leadership for continent-wide security and economic initiatives.

See more in Africa (sub-Saharan); Regional Security

Article

Understanding the New Financial Superpower - The Management of GCC Official Foreign Assets

Authors: Brad W. Setser and Rachel Ziemba
RGE Monitor

With oil at $100, what do we know about how the big oil exporters are managing their petrodollars? In this paper for RGE Monitor, Brad Setser and Rachel Ziemba examine the different GCC funds and estimate that total Gulf investment abroad exceeded $2 trillion in 2007.  One surprising conclusion that emerges from their analysis is that the Gulf as a whole has not diversified away from the dollar.

See more in Middle East and North Africa; Regional Security; International Finance