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Ruto calls for global support for debt reform at UN conference

Ruto calls for global support for debt reform at UN conference
President William Ruto addressing delegates on June 30, 2025 at UN conference. PHOTO/@WilliamsRuto/X

President William Ruto has made a bold call for reforming the global financial system to better serve developing nations during the Fourth International Conference on Financing for Development (FFD4) in Seville, Spain.

Addressing delegates on June 30, 2025, Ruto urged the international community to rally behind a development-oriented debt framework that treats public borrowing as a tool for growth rather than a source of distress.

“We welcome progress being made in reforming the international financial architecture to make it fairer and more effective for countries in the Global South,” Ruto said.

He emphasised that collective action and multilateral cooperation are key to unlocking equitable development.

His remarks recommend stronger bargaining power and fairer lending terms for developing nations—principles Ruto strongly endorsed.

“There is growing consensus on the need for a sovereign debt framework that supports development. We must transform debt into a lever for inclusive growth,” the president said.

The FFD4 outcome document, which Ruto championed, outlines steps to address global financial inequalities. He called on United Nations member states, especially those with reservations, to back the agreement.

William Ruto’s post on his X account. PHOTO/ A screengrab by People Daily Digital@WilliamsRuto/X

“It is time to rally behind the outcome document of the Fourth International Conference on Financing for Development, which reflects renewed commitment to multilateralism and equitable progress,” he posed.

Ruto’s international push for fairness comes amid domestic unrest over the government’s economic policies. His call for solidarity was delivered just weeks after nationwide anti-tax protests turned deadly.

“As the world converges to chart a fairer financial future, Kenya stands ready to lead from the front,” he concluded.

Ruto’s remarks have placed Kenya squarely in the global spotlight—championing reform abroad while navigating deep frustrations at home.

The head of state is expected to engage in a series of activities in Spain, including holding talks aimed at deepening Kenya’s ties with other nations. He is also expected to secure deals that would propel his Kenya Kwanza administration to achieve campaign pledges.

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