Annual Meetings 2024: Reforming the global financial architecture to free up financing for Kenya and in Africa overall.

May 28, 2024 AELEX Admin 0 Comments

“Today, Africa has $640 billion in outstanding debt and pays nearly $70 billion in interest every year. It would only be fair for us to have a financing mechanism that treats us on an equal footing”. Kenyan President William Ruto’s call at the African Union’s 5th biannual coordination meeting in Nairobi in July 2023, was unequivocal: the global financial architecture must be reformed so that Africa is no longer the world’s poor relation. For President Ruto, courageous decisions are needed to keep Africa’s countries’ debt burdens from being too.Read more

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