President William Ruto has reiterated Kenya’s commitment to pushing for reforms in the international financial system.
This is to better serve developing nations, particularly in the Global South.
Speaking during his address in a virtual meeting of the Heads of State Sustainable Development Goals (SDG) Stimulus Leaders Group, the President emphasized the urgency to create fairer financial frameworks.
“Kenya will continue championing the reform of the international financial architecture to make it more responsive to the needs of countries in the Global South,” said President Ruto.The virtual meeting was convened by UN Secretary-General António Guterres.
In the meeting, President Ruto pointed out the importance of mechanisms that help prevent debt crisis and the introduction of debt pauses during global emergencies.
“We must put in place debt crisis prevention mechanisms and implement debt pauses to ensure countries do not fall into distress or default when disaster strikes,” added the President.The high-level meeting is a preparation for the 4th International Conference on Financing for Development, scheduled to take place in Seville, Spain, later this month.
Other leaders who addressed the forum included Presidents Cyril Ramaphosa (South Africa), Hakainde Hichilema (Zambia), Abdel Fattah El Sisi (Egypt), and Prime Minister Pedro Sánchez of Spain.
