Kenya’s President William Ruto is once again putting the spotlight on global finance, urging world leaders to rethink how international financial systems serve countries in the Global South.
Speaking virtually to the Heads of State SDG Stimulus Leaders Group, President Ruto made a strong case for reforms that would offer struggling nations greater flexibility and resilience in times of crisis. His key message: global finance must work for everyone, not just a few.
“We need a financial system that anticipates debt crises before they happen and one that allows countries some breathing room such as temporary debt pauses when disasters like pandemics strike,” he said.
The meeting was hosted by UN Secretary-General António Guterres as part of the lead-up to this month’s 4th International Conference on Financing for Development, scheduled to take place in Seville, Spain.
Ruto’s push for reform found company in fellow African leaders Presidents Cyril Ramaphosa (South Africa), Hakainde Hichilema (Zambia), and Abdel Fattah El Sisi (Egypt) as well as Spain’s Prime Minister Pedro Sanchez. Together, the leaders discussed strategies for reshaping global financial rules to support sustainable development more equitably.
Ruto’s remarks continue his broader call for fairness in global governance, where developing nations are given tools not just talks to overcome economic challenges and accelerate progress toward the Sustainable Development Goals.
